U.S. Physical Therapy, Inc.

U.S. Physical Therapy, Inc. operates through its subsidiaries, providing physical and industrial injury prevention services. The company's business is divided into two reportable segments. The physical therapy operations segment includes clinics and home-care practices offering physical, speech, and occupational therapy. These services address pre- and post-operative care, various orthopedic-related disorders, sports injuries, and rehabilitation for injured workers. The industrial injury prevention services (IIP) segment provides onsite services for client employees, focusing on injury prevention and rehabilitation, performance optimization, post-offer employment testing, functional capacity evaluations, and ergonomic assessments. The majority of IIP services are contracted with and paid for directly by employers, including a number of Fortune 500 companies, and are delivered by industrial sports medicine professionals with specialized musculoskeletal training. The company was re-incorporated in April 1992 in Nevada and has operating subsidiaries in various states structured as limited partnerships, limited liability companies, and wholly-owned corporations. Over the last three years, the company completed several acquisitions, including a 60% interest in the July 2025 Acquisition, a 40%* interest in the April 2025 Acquisition, a 65% interest in the February 2025 Acquisition, a 75% interest in the November 2024 Acquisition, a 50% interest in the October 2024 Acquisition, a 70% interest in the August 2024 Acquisition, a 50% interest in the March 2024 Acquisition, a 70% interest in the September 2023 Acquisition 1, a 70% interest in the September 2023 Acquisition 2, and a 70% interest in the July 2023 Acquisition.