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Segment Information (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Information [Abstract]  
Selected Financial Data for Reportable Segments
The Company has provided additional information regarding its reportable segments which contributes to the understanding of the Company and provides useful information.


  
Three Months Ended
     Six Months Ended
  

 
June 30, 2025
    
June 30, 2024
     June 30, 2025     June 30, 2024  

  (In thousands)     (In thousands)  
Net revenue:                        
Physical therapy operations
   $ 168,292     $ 143,486     $ 324,700     $ 277,911  
Industrial injury prevention services
     29,052       23,704       56,432       44,954  
Total Company
   $ 197,344     $ 167,190     $ 381,132     $ 322,865  
 
                                
Operating Costs:
                                
Salaries and related costs:
                                
Physical therapy operations
   $ 95,668     $ 81,452     $ 189,241     $ 161,226  
Industrial injury prevention services
     18,120       14,882       35,796       28,839  
Total salaries and related costs
   $ 113,788     $ 96,334     $ 225,037     $ 190,065  
Rent supplies, contract labor and other:
                                
Physical therapy operations
   $ 29,826     $ 26,824     $ 59,925     $ 51,977  
Industrial injury prevention services
     4,301       3,511       8,046       6,342  
Total rent, supplies, contract labor and other
   $ 34,127     $ 30,335     $ 67,971     $ 58,319  
Depreciation and amortization:                                
Physical therapy operations   $
5,516     $
 4,067     $
10,701     $
 7,840  
Industrial injury prevention services     225       232       580       357  
Total depreciation and amortization
   $
 5,741     $
4,299     $
11,281     $
 8,197  
Provision for credit losses:
                                
Physical therapy operations
   $ 1,980     $ 1,717     $ 3,821     $ 3,344  
Industrial injury prevention services
     15       -       22       -  
Total provision for credit losses
   $ 1,995     $ 1,717     $ 3,843     $ 3,344  
Clinic closure costs:
                               
Physical therapy operations
  $ 69     $ 643       311     $ 677  
Industrial injury prevention services
    -
       -
       -       -  
Total clinic closure costs
  $ 69     $ 643       311     $ 677  
Total Company
   $ 155,720     $ 133,328     $ 308,443     $ 260,602  

                               
Gross profit:
                                
Physical therapy operations
   $ 35,233     $ 28,783     $ 60,701     $ 52,847  
Industrial injury prevention services
     6,391       5,079       11,988       9,416  
Total Company
   $ 41,624     $ 33,862     $ 72,689     $ 62,263  
                                 
Unallocated amounts                                
Corporate office costs   $
17,476     $
14,249     $
33,721     $
 28,334  
Interest expense, debt and other     2,422       1,980       4,701       3,948  
Interest income from investments     (28 )     (1,074 )     (52 )     (2,617 )
(Gain) loss on change in fair value of contingent earn-out consideration     (790 )     4,046       (5,612 )     3,434  
Change in revaluation of put-right liability     339       223       743       303  
Equity in earnings of unconsolidated affiliate     (401 )     (248 )     (794 )     (519 )
Loss on sale of a partnership     -       -       123       -  
Other   $
(47 )  
(109 )   $
 (122 )  
(171 )
Total unallocated amounts   $
 18,971     $
19,067     $ 32,708     $
32,712  
Income before taxes   $
 22,653     $
 14,795     $
39,981     $
 29,551  


 
June 30, 2025
    
December 31, 2024
  
Assets:
            
Goodwill:
           
Physical therapy operations
   $ 589,643     $ 579,046  
Industrial injury prevention services
     87,952       88,106  
Total goodwill   $
677,595     $
667,152  
All other assets:                
Physical therapy operations     420,754     $
415,039  
Industrial injury prevention services     81,251       85,276  
Total all other assets     502,005       500,315  
Total Assets
   $ 1,179,600     $ 1,167,467