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US Physical Therapy: Therapy Clinics

June 8, 2015

With an aging population and more people getting into various fitness activities the need for physical therapy has increased. One company has been and continues to benefit from this situation with its therapy clinics located in the majority of US states.

US Physical Therapy (USPh) is one of the largest publicly traded, pure-play operator of outpatient physical and occupational therapy clinics, operating in 42 states with more than 480 clinics.

Historically as USPh states it has expanded its business through de novo development; around two-thirds of USPh clinics were originally start-ups. Strategic acquisitions, which accelerate the company’s growth, are structured like the de novo partnerships,with significant ownership retained by founders.

The clinics provide pre- and post-operative care for a variety of orthopedic-related disorders and sports-related injuries, rehabilitation of injured workers and preventive care. USPh also manages several physical therapy facilities for third parties, including physician groups. Each of USPh’s clinics are directed by a licensed physical therapist that drive patient volume via local physicians, former patients and other referral sources. Marketing representatives are used to further augment sales.

The US outpatient rehabilitation market is estimated to be a $19 billion industry with a projected annual growth rate of five percent or higher. The sector is also highly fragmented, with no company controlling significant market share. Given the aging and active US population, the demographics favor a sustained growth in patients seeking or requiring rehabilitation services. Also increasing numbers of Americans who engage in fitness regimens, coupled with increasing numbers of weekend warriors, is driving increasing demand for physical therapy and rehabilitation treatments throughout the US. The most common conditions treated with physical therapy and rehab are lower back pain, spine, shoulder and rotator-cuff injuries, knee disorders as well as sprains and strains of various types. With pressures to lower patient costs across the board, private insurers and government health programs are increasing turning to low cost/high quality outpatient providers.

Currently USPh is the third largest owner/operator of rehabilitation clinics in the US.

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