Businessweek

U.S. Physical Therapy, Inc., through its subsidiaries, operates outpatient physical therapy clinics that provide pre-and post-operative care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers, and neurological-related injuries. The company operates one clinic which specializes in the outpatient, non-surgical treatment of osteo arthritis degenerative joint disease and other musculoskeletal conditions and performs certain services on behalf of third parties that provide physical therapy services. The company operates some clinics through wholly-owned subsidiaries under profit sharing arrangements with therapists. As of December 31, 2012, the company operated 431 clinics, inclusive of 1 clinic that perform physician services, in 43 states. It also managed 15 physical therapy practices for third parties, primarily physicians. Therapists at the company’s clinics initially perform a comprehensive evaluation of each patient, which is then followed by a treatment plan specific to the injury as prescribed by the patient’s physician. The treatment plan includes various procedures, including therapeutic exercise, manual therapy techniques, ultrasound, electrical stimulation, hot packs, iontophoresis, education on management of daily life skills and home exercise programs. The company provides services at its clinics on an outpatient basis. Patients are treated for approximately one hour per day, two to three times a week, typically for two to six weeks. Strategy The company’s strategy is to develop outpatient physical therapy clinics and acquire single and multi-clinic outpatient physical therapy practices on a national basis. History U.S. Physical Therapy, Inc. was founded in 1990.