Houston, TX – U.S. Physical Therapy, Inc. (NYSE: USPH), a national operator of outpatient physical therapy clinics and provider of industrial injury prevention (“IIP”) services, recently announced the acquisition of an IIP services and ergonomics software business by one of its two primary IIP companies, Briotix Health Limited Partnership (“Briotix”).
In addition to increasing its IIP services business, the newly created ergonomics software provides an exciting new solution to add to Briotix’s offerings to existing and potential customers.
Briotix purchased all of the IIP services business and a 55% equity interest in the ergonomics software business for a total purchase price of approximately $4.0 million. The combined businesses currently generate approximately $2.6 million in annual revenues.
Chris Reading, Chief Executive Officer, said, “The founders of the business, whom we have known for a good while, are of outstanding character and ability, and will be a great addition to our very capable Briotix team. We are particularly excited about the growth potential of the software business which will enable us to serve an even broader audience relating to their ergonomic program needs.”