U.S. Physical Therapy closing 26 clinics
Rehab Regs, September 8, 2006
In order to save $600,000 a year on taxes and staff, U.S. Physical Therapy, a Houston-based operator of OT and PT clinics, plans to close 26 clinics and lay off 19 employees, according to the Houston Business Journal.
The announcement triggered a 13% drop in the company's stock Thursday morning. The 26 clinics set to be closed saw only an average of six patients per day, compared to just over 19 per day at the rest of U.S. Physical Therapy's 277 clinics across the country.
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