Porter Hedges Represents U.S. Physical Therapy in the Closing of a New $325 Million Credit Facility
Porter Hedges represented U.S. Physical Therapy, Inc. (NYSE: USPH), a national operator of outpatient physical therapy clinics and provider of industrial injury prevention services, in the closing of a $325 million, five-year credit facility that includes a $150 million term loan and a $175 million revolver. Based on strong lender support, the credit facility was upsized from its $300 million launch amount. This is an increase and extension of its previous $150 million credit facility. USPH concurrently announced that it entered into an interest rate swap agreement with respect to $150 million of the debt under the new credit facility.
Founded in 1990, U.S. Physical Therapy, Inc. operates 608 outpatient physical therapy clinics in 38 states. The company's clinics provide preventative and post-operative care for a variety of orthopedic-related disorders and sports-related injuries, treatment for neurologically-related injuries and rehabilitation of injured workers. USPH also has an industrial injury prevention services business which provides onsite services for clients’ employees including injury prevention and rehabilitation, performance optimization, post-offer employment testing, functional capacity evaluations, and ergonomic assessments.
For additional information, please see the USPH press release here.