ACQUISITIONS OF BUSINESSES (Tables)

6 Months Ended

Jun. 30, 2014

Schedule of Preliminary Purchase Prices Allocation

The purchase prices for the 2014 acquisitions have been preliminarily allocated as follows (in thousands):

Cash paid, net of cash acquired	$	10,750
Seller notes		400
Total consideration	$	11,150
Estimated fair value of net tangible assets acquired:
Total current assets	$	1,203
Total non-current assets		1,200
Total liabilities		(374	)
Net tangible assets acquired		2,029
Referral relationships		-
Non-competition agreements		-
Tradename		-
Goodwill		13,846
Fair value of non-controlling interest		(4,725	)
	$	11,150

The purchase prices for the 2013 acquisitions have been preliminarily allocated as follows (in thousands):

Cash paid, net of cash acquired	$	46,628
Seller notes		1,300
Total consideration	$	47,928
Estimated fair value of net tangible assets acquired:
Total current assets	$	3,756
Total non-current assets		2,283
Total liabilities		(1,082	)
Net tangible assets acquired		4,957
Referral relationships		940
Non-competition agreements		400
Tradename		1,500
Goodwill		50,672
Fair value of non-controlling interest		(10,541	)
	$	47,928

Schedule of Clinic Acquisition

During the first six months of 2014 and the year ended 2013, the Company acquired the following clinic groups:

		% Interest	Number of
Acquisition	Date	Acquired	Clinics

	2014
April 2014 Acquisition	April 30	70%	13

	2013
February 2013 Acquisition	February 28	72%	9
April 2013 Acquisition	April 30	50%	5
May 2013 Acquisition	May 24	80%	5
December 9, 2013 Acquisition	December 9	60%	12
December 13, 2013 Acquisition	December 13	90%	11

Schedule of Unaudited Proforma Net Revenue and Net Income from Continuing Operations

Unaudited proforma net revenue and net income from continuing operations for the Company as if the December 13, 2013 Acquisition occurred as of January 1, 2013 is as follows (in thousands, except per share data):

	Three Months		Six Months
	Ended		Ended
	June 30, 2013		June 30, 2013

Net revenues	$	69,563	$	135,024
Net income attributable to common shareholders from continuing operations	$	5,717	$	9,750

Earnings per share:
Basic - net income attributable to common shareholders from continuing operations	$	0.47	$	0.81
Diluted - net income attributable to common shareholders from continuing operations	$	0.47	$	0.81

Shares used in computation:
Basic - net income attributable to common shareholders from continuing operations		12,089		12,022
Diluted - net income attributable to common shareholders from continuing operations		12,110		12,044

Multi Clinic Acquisitions of Physical Therapy [Member]

Schedule of Clinic Acquisition

During 2013, the Company completed the following multi-clinic acquisitions of physical therapy practices:

		% Interest		Number of
Acquisition	Date	Acquired		Clinics

February 2013 Acquisition	February 28		72%	9
April 2013 Acquisition	April 30		50%	5
May 2013 Acquisition	May 24		80%	5
December 9, 2013 Acquisition	December 9		60%	12
December 13, 2013 Acquisition	December 13		90%	11