U.S. Physical Therapy Completes Acquisition of 50% Interest in Metro, LLC

U.S. Physical Therapy, Inc. (NYSE: USPH) recently announced the completion of the acquisition of a 50% interest in MSO Metro, LLC (“Metro”) as detailed in their recent Form 8-K filing with the Securities and Exchange Commission on October 31, 2024.

The acquisition, which was conducted pursuant to the Equity Interest Purchase Agreement dated October 7, 2024, involved U.S. Physical Therapy, Ltd., a subsidiary of the Company, becoming the managing member of Metro. As part of the transaction, U.S. Physical Therapy paid a purchase price of approximately $76.5 million, primarily funded by cash reserves with a portion financed through the issuance of 18,358 shares of the company’s common stock.

Incorporated into the agreement is a contingent earnout clause, where the sellers stand to earn up to an additional $20.0 million if specific performance targets related to the Metro business are met.

As a result of the transaction, U.S. Physical Therapy expanded its board of directors from seven to eight members and appointed Michael G. Mayrsohn as a director, effective February 24, 2025. Mr. Mayrsohn, who has been serving as the Chief Executive Officer of Metro since 2016, brings a wealth of experience to the company. Prior to his current role, he worked as a Physical Therapist and Clinical Director at Metro and its affiliated therapy practices.

To accompany these updates, a press release was issued on October 31, 2024, to announce the finalization of the acquisition. The company has made the full press release available as Exhibit 99.1 in their Form 8-K filing for further reference.

This statement is not a filing under the Securities Act of 1933 or the Exchange Act of 1934, nor is it deemed as “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended. For further financial details and exhibits related to this transaction, please refer to the complete Form 8-K filing available on the Securities and Exchange Commission’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read U.S. Physical Therapy’s 8K filing here.

About U.S. Physical Therapy

U.S. Physical Therapy, Inc operates outpatient physical therapy clinics. The company operates through Physical Therapy Operations and Industrial Injury Prevention Services segments. The company provides pre-and post-operative care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers, and neurological-related injuries.