US Physical Therapy (NYSE: USPH) details NYU alliance and $15.1M deal

Rhea-AI Filing Summary

U.S. Physical Therapy, Inc. reported two strategic moves. The company’s subsidiary partner, Metro Physical & Aquatic Therapy, entered a 10-year strategic alliance with NYU Langone Health to provide physical therapy services across Long Island and the New York metropolitan area.

On the same date, U.S. Physical Therapy announced it acquired a majority, 70% interest in an industrial injury prevention business for approximately $15.1 million, while the current owner retained 30%. The acquired business generates about $7.0 million in annual revenues, expanding U.S. Physical Therapy’s industrial injury prevention services portfolio.

Insights

Healthcare services equity analyst

USPH adds NYU branding reach and buys a $7M-revenue safety business.

U.S. Physical Therapy is deepening two core pillars: outpatient therapy and industrial injury prevention. A 10-year alliance between Metro Physical & Aquatic Therapy and NYU Langone Health ties its clinics to a top-ranked academic medical center in the New York region.

The long term of the alliance suggests a stable framework for joint operations in Long Island and the broader metropolitan area, though specific volume commitments or financial terms are not detailed in the excerpt. Actual benefit will depend on referral patterns and execution across both partners’ networks.

The company also bought a 70% stake in an industrial injury prevention business for about $15.1 million, which currently produces roughly $7.0 million in annual revenues. This adds scale to its existing injury prevention segment; future filings may clarify margin profile, integration progress, and any growth in this revenue base after the February 2, 2026 transaction.

falseU S PHYSICAL THERAPY INC /NV0000885978NYSE00008859782026-02-022026-02-020000885978usph:NYSEMember2026-02-022026-02-020000885978usph:NewYorkStockExchangeMember2026-02-022026-02-02

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

 CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 2, 2026

 U.S. PHYSICAL THERAPY, INC.

(Exact name of registrant as specified in its charter)

Nevada		001-11151		76-0364866
(State or other jurisdiction of incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification No.)

1300 WEST SAM HOUSTON PARKWAY, SUITE 300, HOUSTON, Texas		77043
(Address of Principal Executive Offices)		(Zip Code)

Registrant's telephone number, including area code: (713) 297-7000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $.01 par value	USPH	New York Stock Exchange
Common Stock, $.01 par value	USPH	NYSE Texas, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

ITEM 8.01 Other Event.
 

On February 2, 2026, U.S. Physical Therapy, Inc. (“USPH”) (NYSE, NYSE Texas: USPH), a national operator of outpatient physical therapy clinics and provider of industrial injury prevention services, announced a 10-year strategic alliance between its subsidiary partner, Metro Physical & Aquatic Therapy (“Metro Physical Therapy”), and NYU Langone Health, one of the nation’s top-ranked academic medical centers (“NYU Langone”). NYU Langone and Metro Physical Therapy will work together in Long Island and the New York metropolitan area to deliver exceptional physical therapy care to patients throughout the region.

On the same day, USPH announced the acquisition of an industrial injury prevention business for approximately $15.1 million. The business currently generates approximately $7.0 million in annual revenues. USPH acquired a 70% interest and 30% was retained by the current owner.

A copy of the press releases are attached hereto as Exhibits 99.1 and 99.2 to this Current Report on Form 8-K.

The information in this Current Report on Form 8-K, including the exhibits, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

ITEM 9.01   FINANCIAL STATEMENTS AND EXHIBITS

Exhibit		Description of Exhibit
99.1		Registrant's Press Release Announces Strategic Alliance with NYU Langone Health

99.2  Registrant's Press Release Announces the Acquisition of an Industrial Injury Prevention Business

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				U.S. PHYSICAL THERAPY, INC.
Dated: February 4, 2026				By:		/s/ CAREY HENDRICKSON
						Carey Hendrickson
						Chief Financial Officer
						(duly authorized officer and principal financial and accounting officer)

FAQ

What strategic alliance did U.S. Physical Therapy (USPH) announce with NYU Langone Health?

U.S. Physical Therapy announced a 10-year strategic alliance between its subsidiary partner Metro Physical & Aquatic Therapy and NYU Langone Health. The partnership focuses on delivering physical therapy care across Long Island and the New York metropolitan area, leveraging NYU Langone’s academic medical reputation and Metro’s outpatient clinic presence.

What business did U.S. Physical Therapy (USPH) acquire and for how much?

U.S. Physical Therapy acquired an industrial injury prevention business for approximately $15.1 million. The acquired business generates about $7.0 million in annual revenues and fits within USPH’s industrial injury prevention services, broadening its offerings beyond traditional outpatient physical therapy clinics and related services.

What ownership stake did U.S. Physical Therapy (USPH) take in the acquired injury prevention business?

U.S. Physical Therapy purchased a 70% interest in the industrial injury prevention business, while the current owner retained a 30% stake. This majority ownership allows USPH to consolidate control and integrate the business operationally, while still aligning incentives with the existing owner who remains a significant minority partner.

How much revenue does the newly acquired industrial injury prevention business generate for USPH?

The industrial injury prevention business acquired by U.S. Physical Therapy currently generates approximately $7.0 million in annual revenues. This provides an immediate revenue contribution to USPH’s industrial injury prevention segment, with future performance depending on integration, cross-selling opportunities, and client retention after the acquisition.

Where will the NYU Langone and Metro Physical Therapy alliance focus its services?

NYU Langone and Metro Physical & Aquatic Therapy will work together in Long Island and the New York metropolitan area. Their goal is to deliver exceptional physical therapy care throughout this region, combining Metro’s clinic network with NYU Langone Health’s standing as a top-ranked academic medical center.

Does the 8-K state whether the USPH press releases are incorporated by reference into other filings?

The 8-K specifies that the information, including the attached Exhibits 99.1 and 99.2, is not deemed filed under Section 18 of the Exchange Act and is not incorporated by reference into Securities Act or Exchange Act filings, unless specifically incorporated by reference in a future filing.