U.S. Physical Therapy renews, extends $125 million credit facility

By Sarah Lizee

Olympia, Wash., Nov. 10 – U.S. Physical Therapy, Inc. renewed its $125 million bank credit facility extending the maturity date from November 2018 to November 2021, according to a press release.

Funds from the credit agreement may be used for working capital, acquisitions and other corporate purposes.

There is currently $51 million outstanding under the line.

“The extended maturity date of the credit facility provides U.S. Physical Therapy with significant committed capital for the next several years as we continue to grow U.S. Physical Therapy’s business both internally and through strategic acquisitions,” Larry McAfee, chief financial officer, said in the release.

“The facility continues to have favorable terms and conditions plus a lower interest rate. We are grateful to Bank of America for their continued support.”

Houston-based U.S. Physical Therapy operates outpatient physical therapy clinics.

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