<SEC-DOCUMENT>0001157523-17-002484.txt : 20170911
<SEC-HEADER>0001157523-17-002484.hdr.sgml : 20170911
<ACCEPTANCE-DATETIME>20170911160014
ACCESSION NUMBER:		0001157523-17-002484
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170911
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170911
DATE AS OF CHANGE:		20170911

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			U S PHYSICAL THERAPY INC /NV
		CENTRAL INDEX KEY:			0000885978
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-HEALTH SERVICES [8000]
		IRS NUMBER:				760364866
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11151
		FILM NUMBER:		171079032

	BUSINESS ADDRESS:	
		STREET 1:		1300 WEST SAM HOUSTON PARKWAY
		STREET 2:		SUITE 300
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77043
		BUSINESS PHONE:		7132977000

	MAIL ADDRESS:	
		STREET 1:		1300 WEST SAM HOUSTON PARKWAY
		STREET 2:		SUITE 300
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77043
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51681820.htm
<DESCRIPTION>U.S. PHYSICAL THERAPY, INC. 8-K
<TEXT>
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      <br>
      <br>
      <br>
      <font style="font-size: 14pt; font-family: Times New Roman">UNITED STATES</font><font style="font-size: 14pt"><br style="font-size: 14pt"></font><font style="font-size: 14pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font><font style="font-size: 14pt"><br style="font-size: 14pt"></font><font style="font-size: 14pt; font-family: Times New Roman">Washington,
      D.C. 20549</font><br><br><font style="font-size: 14pt; font-family: Times New Roman"><b>Form
      8-K</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman">Current
      Report </font><font style="font-size: 12pt">Pursuant to Section 13 or
      15(d) of</font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt">the
      </font><font style="font-size: 12pt; font-family: Times New Roman">Securities
      Exchange Act of 1934</font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><br><font style="font-size: 12pt; font-family: Times New Roman">Date
      of Report (Date of earliest event reported): September 11, 2017</font><br><br><br><font style="font-size: 14pt; font-family: Times New Roman"><b>U.S.
      Physical&#160;Therapy, Inc.</b></font><br><font style="font-size: 12pt; font-family: Times New Roman">(Exact
      name of registrant as specified in its charter)</font><br><br><br><br>
    </p>
    <div style="text-align:center">
    <table style="width: 75%; margin-left:auto;margin-right:auto; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Nevada</b>
          </p>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: center; white-space: nowrap; width: 34%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>1-11151</b>
          </p>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: center; white-space: nowrap; width: 33%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>76-0364866</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; width: 33%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or other jurisdiction<br>of incorporation)
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="text-align: center; width: 34%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission<br>File Number)
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="text-align: center; width: 33%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (I.R.S. Employer
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>

    </p>
<div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="bottom" style="text-align: center; width: 67%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>1300 West Sam Houston Parkway South,</b><br><b>Suite 300,
            Houston, Texas</b>
          </p>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: center; white-space: nowrap; width: 33%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>77042</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; width: 67%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Address
            of principal executive offices)</font>
          </p>
        </td>
        <td valign="bottom" style="text-align: center; width: 33%; padding-left: 0.0px">
          <font style="font-size: 10pt; font-family: Times New Roman">(Zip
          Code)</font>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      <br>
      <br>
      <font style="font-size: 10pt; font-family: Times New Roman"><b>(713)
      297-7000</b></font><br><font style="font-size: 10pt">(Registrant&#8217;s
      telephone number, including area code)</font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman">
      </font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions (see General Instruction A.2. below):</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt; font-family: Times New Roman">
      Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt; font-family: Times New Roman">
      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
      CFR 240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt; font-family: Times New Roman">
      Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt; font-family: Times New Roman">
      Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))</font>
    </p>
    <p style="text-align: justify">
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405
      of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
      (&#167;240.12b-2 of this chapter).
    </p>
    <p style="text-align: justify; white-space: nowrap">
      Emerging growth company&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;[&#160;&#160;]
    </p>
    <p style="text-align: justify">
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act.&#160;&#160;&#160;&#160;&#160;&#160;[ ]
    </p>
    <p>

    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: left; width: 10%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Item 7.01</b>
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 90%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Regulation FD Disclosure</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: justify">
      On September 11, 2017, U.S. Physical Therapy, Inc. (the &#8220;Company&#8221;)
      announced that its Chief Financial Officer, Larry McAfee, will present
      at the 2017 Credit Suisse Under Followed Opportunities Conference on
      Wednesday, September 13, 2017. The presentation will cover an overview
      of the Company.&#160;&#160;The conference is being held in Boston, Massachusetts.
    </p>
    <p style="text-align: justify">
      A copy of the investor presentation may be assessed on the Company&#8217;s
      website, www.usph.com.
    </p>
    <p style="text-align: justify">
      The presentation includes a discussion of operating results and Adjusted
      EBITDA, non-GAAP (generally accepted accounting principles) financial
      measures. The presentation includes tables that reconcile net income
      attributable to USPH shareholders calculated in accordance with GAAP to
      operating results and Adjusted EBITDA. Management believes providing
      operating results and Adjusted EBITDA to investors is useful information
      for comparing the Company's period-to-period results.&#160;&#160;&#160;
    </p>
    <p style="text-align: justify">
      Operating results is defined as USPH&#8217;s net income attributable to common
      shareholders prior to interest expense &#8211; mandatorily redeemable
      non-controlling interests &#8211; change in redemption value, net of
      tax.&#160;&#160;Management uses operating results, which eliminates this non-cash
      item that can be subject to volatility, as one of the principal measures
      to evaluate and monitor financial performance period over period.&#160;
      Management believes that operating results is useful information for
      investors to use in comparing the Company's period-to-period results as
      well as for comparing with other similar businesses since most do not
      have mandatorily redeemable instruments and therefore have different
      liability and equity structures.&#160;&#160;
    </p>
    <p style="text-align: justify">
      Adjusted EBITDA is defined as earnings before interest income, interest
      expense &#8211; mandatorily redeemable non-controlling interests &#8211; change in
      redemption value, interest expense &#8211; debt and other, taxes,
      depreciation, amortization and equity-based awards compensation
      expense.&#160;&#160;&#160;Management believes reporting Adjusted EBITDA is useful
      information for investors in comparing the Company&#8217;s period-to-period
      results as well as comparing with similar businesses which report
      adjusted EBITDA as defined by their company.&#160;&#160;
    </p>
    <p style="text-align: justify">
      Operating results and Adjusted EBITDA are not measures of financial
      performance under GAAP. Adjusted EBITDA and Adjusted Net Income should
      not be considered in isolation or as an alternative to, or substitute
      for, net income attributable to USPH shareholders presented in the
      consolidated financial statements.
    </p>
    <p style="text-align: justify">
      In accordance with General Instruction B.2 of Form 8-K, the information
      in this Current Report on Form 8-K, including the exhibits, shall not be
      deemed to be &quot;filed&quot; for purposes of Section 18 of the Securities
      Exchange Act of 1934, as amended (the &quot;Exchange Act&quot;), or otherwise
      subject to the liabilities of that section, and shall not be
      incorporated by reference into any registration statement or other
      document filed under the Securities Act of 1933, as amended, or the
      Exchange Act, except as shall be expressly set forth by specific
      reference in such filing.
    </p>
<div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: left; width: 10%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Item 9.01</b>
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 90%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>FINANCIAL STATEMENTS AND EXHIBITS</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="border-bottom-width: 1.0pt; text-align: left; width: 15%; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black">
          Exhibits
        </td>
        <td valign="top" style="border-bottom-width: 1.0pt; text-align: left; width: 85%; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black">
          Description of Exhibit
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: left; white-space: nowrap; width: 15%; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black">
          99.1
        </td>
        <td valign="top" style="border-bottom-width: 1.0pt; text-align: left; width: 85%; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black">
          Registrant&#8217;s press release dated September 11, 2017. **
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: justify; white-space: nowrap">
      **&#160;&#160;Furnished herewith.
    </p>
    <p>

    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURE</b></font><br>
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt; font-family: Times New Roman">
      <font style="font-size: 10pt; font-family: Times New Roman">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
    <p>
      <br>

    </p>
<div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="width: 8%">

        </td>
        <td style="width: 42%">

        </td>
        <td valign="top" style="text-align: left; width: 40%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>U.S. Physical Therapy, Inc.</b>
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 8%">

        </td>
        <td style="width: 42%">

        </td>
        <td style="width: 40%">

        </td>
        <td valign="top" style="text-align: left; width: 10%; padding-left: 0.0px">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 8%">

        </td>
        <td style="width: 42%">

        </td>
        <td style="width: 40%">

        </td>
        <td valign="top" style="text-align: left; width: 10%; padding-left: 0.0px">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; width: 8%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Dated:
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 42%; padding-left: 0.0px">
          September 11, 2017
        </td>
        <td valign="top" style="text-align: left; width: 40%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>&#160;&#160;&#160;/s/ LAWRANCE W. MCAFEE</u>
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 8%">

        </td>
        <td style="width: 42%">

        </td>
        <td valign="top" style="text-align: left; width: 40%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Lawrance W. McAfee
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 8%">

        </td>
        <td style="width: 42%">

        </td>
        <td valign="top" style="text-align: left; width: 40%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Chief Financial Officer
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 8%">

        </td>
        <td style="width: 42%">

        </td>
        <td valign="top" style="text-align: center; width: 40%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 8%">

        </td>
        <td style="width: 42%">

        </td>
        <td valign="top" style="text-align: center; width: 40%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <b>INDEX TO EXHIBITS</b><br><br>
    </p>
<div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: left; width: 15%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>EXHIBIT</b></u>
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 85%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>DESCRIPTION OF EXHIBIT</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td valign="top" style="text-align: left; width: 85%; padding-left: 0.0px">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-right: 0.0px; text-align: left; white-space: nowrap; width: 15%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51681820ex99_1.htm">99.1</a>
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 85%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51681820ex99_1.htm">Registrant&#8217;s press release dated
            September 11, 2017.</a> **
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td valign="top" style="text-align: left; width: 85%; padding-left: 0.0px">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="2" style="text-align: left; padding-left: 0.0px">
          * Furnished herewith
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51681820ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2017 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-family: Times New Roman; font-size: 8pt">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>U.S.
      Physical Therapy to Present at the 2017 Credit Suisse Under Followed
      Opportunities Conference</b></font>
    </p>
    <p>
      HOUSTON--(BUSINESS WIRE)--September 11, 2017--U.S. Physical Therapy,
      Inc. (NYSE: USPH), a national operator of outpatient physical therapy
      clinics (the &#8220;Company&#8221;), today announced that its Chief Financial
      Officer, Larry McAfee, will present at the 2017 Credit Suisse Under
      Followed Opportunities Conference on Wednesday, September 13, 2017. The
      presentation will cover an overview of the Company. The conference is
      being held in Boston, Massachusetts.
    </p>
    <p>
      A copy of the presentation is posted on the Company&#8217;s website at <u>www.usph.com</u>.
    </p>
    <p>
      <b>About U.S.</b> <b>Physical Therapy, Inc.</b>
    </p>
    <p>
      Founded in 1990, U.S. Physical Therapy, Inc. operates 568 outpatient
      physical therapy clinics in 41 states. The Company's clinics provide
      preventative and post-operative care for a variety of orthopedic-related
      disorders and sports-related injuries, treatment for
      neurologically-related injuries and rehabilitation of injured workers.
      In addition to owning and operating clinics, the Company manages 28
      physical therapy facilities for unaffiliated third parties, including
      hospitals and physician groups. The Company also provides onsite
      services for clients&#8217; employees including injury prevention,
      rehabilitation, ergonomic assessments and performance optimization.
    </p>
    <p>
      More information about U.S. Physical Therapy, Inc. is available at <u>www.usph.com</u>.
      The information included on that website is not incorporated into this
      press release.
    </p>
    <p>
      CONTACT:<br>U.S. Physical Therapy, Inc.<br>Larry McAfee, (713) 297-7000<br>Chief
      Financial Officer<br>or<br>Chris Reading, (713) 297-7000<br>Chief
      Executive Officer<br>or<br>Three Part Advisors<br>Joe Noyons, (817)
      778-8424
    </p>
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