05:19 PM EDT, 10/07/2024 (MT Newswires) -- US Physical Therapy's ( USPH ) agreed to buy a 50% stake in MSO Metro, which offers management and administrative support to 50 physical therapy clinics, for $76.5 million in cash and stock.

The purchase by a unit involves $75 million in cash and $1.5 million through the issuance of common stock, US Physical Therapy ( USPH ) said Monday in a regulatory filing.

MSO Metro manages 50 outpatient clinics primarily in New York and offers physical, occupational, and speech therapy services, including home-based physical therapy. It generates $64 million in annual revenue, US Physical Therapy ( USPH ) said in a statement.

The transaction is expected to close Oct. 31.