ADDED
through its subsidiaries ( we , us , our , or the Company ), operates its business through two reportable business segments.
Our physical therapy operations segment consists of physical therapy, speech therapy and occupational therapy clinics and home-care physical and speech therapy practices that provide pre- and post-operative care and treatment for a variety of orthopedic-related disorders, sports-related injuries, and rehabilitation of injured workers.
Services provided by the industrial injury prevention services ( IIP ) segment include onsite services for clients employees including injury prevention and rehabilitation, performance optimization, post-offer employment testing, functional capacity evaluations and ergonomic assessments.
IIP is performed through industrial sports medicine professionals with specialized training related to the musculoskeletal system.
After the transaction, the Company s ownership interest is 40%, the local partners have an ownership interest of 40% and the practice s preacquisition owners have a 20% ownership interest.
*** On April 30, 2024, one of our primary IIP businesses, Briotix Health Limited Partnership, acquired 100% of an IIP business.
Our strategy is to continue acquiring outpatient physical therapy practices, develop outpatient physical therapy clinics as satellites in existing partnerships, manage outpatient physical therapy clinics owned by third parties, and continue acquiring companies that provide or serve the Company s industrial injury prevention services sector.
We repurchased 81,322 of our own shares of common stock for total consideration of $5.6 million on the open market in the three months ended December 31, 2025.
We are in the process of implementing a new enterprise resource planning ( ERP ) system designed to support certain human resources and accounting functions.
The implementation is intended to enhance system integration, standardize processes, and improve operational efficiency and reporting capabilities.
REMOVED
and subsidiaries (collectively, we , us , our or the Company ), operates its business through two reportable business segments.
Our reportable segments consist of the physical therapy operations segment and the industrial injury prevention services ( IIP ) segment.
Through our subsidiaries, we operate and/or manage outpatient physical therapy clinics that provide pre-and post-operative care for a variety of orthopedic-related disorders and sports-related injuries, treatment for neurological-related injuries and rehabilitation of injured workers.
We also have a majority interest in businesses which are leading providers of industrial injury prevention services.
Services provided in this business include onsite injury prevention and rehabilitation, performance optimization, post-offer employment testing, functional capacity evaluations and ergonomic assessments.
These services are performed through Industrial Sports Medicine Professionals, consisting primarily of specialized certified athletic trainers.
Besides the multi-clinic acquisitions referenced in the table above, during 2024 and 2023, we purchased the assets and businesses of eight and nine physical therapy clinics, respectively, in separate transactions.
On May 30, 2023, we completed a secondary offering of 1,916,667 shares of its common stock at an offering price of $90.00 per share.
Upon completion of the offering, we received net proceeds of approximately $163.6 million, after deducting an underwriting discount of $8.6 million and recognizing related fees and expenses of $0.2 million.
A portion of the net proceeds was used to repay the $35.0 million then outstanding under our credit facility while the remainder was used primarily for additional acquisitions.