UNITED STATESSECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 3, 2017
U.S. PHYSICAL THERAPY, INC.
(Exact name of registrant as specified in its charter)
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| Nevada | | 1-11151 | | 76-0364866 |
(State or other jurisdiction of incorporation or organization) | | (Commission File Number) | | (I.R.S. Employer Identification No.) |
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1300 West Sam Houston Parkway South, Suite 300, Houston, Texas | | 77042 |
| (Address of Principal Executive Offices) | | (Zip Code) |
Registrant's telephone number, including area code: (713) 297-7000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):
| | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| | Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b)) |
| | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 Other Events
U.S. Physical Therapy, Inc. (NYSE: USPH), a national operator of outpatient physical therapy clinics, announced that the Company has just completed the acquisition of a physical therapy practice that owns and operates 17 clinics and manages an additional 8 clinics. USPH acquired a 70% interest with the practice’s clinical owners retaining 30%. The purchase price was $11.4 million.
The business generates approximately $11 million in total annual revenue. There are approximately 101,000 annual patient visits at owned clinics with revenue of $7.2 million. Revenue from management contracts and other sources is approximately $3.8 million.
Item 9.01 | FINANCIAL STATEMENTS AND EXHIBITS |
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| Exhibits | | Description of Exhibits |
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| 99.1 | | Registrant's press release dated January 3, 2017 – U.S. Physical Therapy Completes First Acquisition of 2017. ** |
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** Furnished herewith.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| | | | | U.S. PHYSICAL THERAPY, INC. |
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| Dated: January 3, 2017 | | | | By: | | /s/ LAWRANCE W. MCAFEE |
| | | | | | | Lawrance W. McAfee |
| | | | | | | Chief Financial Officer |
| | | | | | | (duly authorized officer and principal financial and accounting officer) |
