March 26, 2020 / 9:50 PM / 2 months ago

BRIEF-U.S. Physical Therapy - Operations Adversely Effected By Spread Of Covid-19

March 26 (Reuters) - U.S. Physical Therapy Inc:

* U.S. PHYSICAL THERAPY - OPERATIONS CONTINUE TO BE ADVERSELY EFFECTED BY SPREAD OF COVID-19 - SEC FILING

* U.S. PHYSICAL THERAPY - NUMBER OF OUR PHYSICAL THERAPY CLINICS ARE AT LEAST TEMPORARILY CLOSED

* U.S. PHYSICAL THERAPY - CLINICS THAT REMAIN OPEN ARE EXPERIENCING SIGNIFICANT DROP IN PATIENT VOLUME

* U.S. PHYSICAL THERAPY - CO’S INDUSTRIAL INJURY PREVENTION BUSINESS EXPERIENCING SIGNIFICANT DOWNTURN AS MORE CLIENTS’ LOCATIONS ARE ON REDUCED WORK SCHEDULES OR CLOSED

* U.S. PHYSICAL THERAPY - EXPECTS SIGNIFICANT DROP IN REVENUE AND, IN THE NEAR TERM, EXPECTS TO INCUR OPERATING LOSSES

* U.S. PHYSICAL THERAPY - ACTIONS TO MITIGATE LOSSES INCLUDE REDUCING EMPLOYEE SALARIES AND FURLOUGHING OR TERMINATING EMPLOYMENT OF OTHERS

* U.S. PHYSICAL THERAPY - OTHER STEPS TO MITIGATE LOSSES INCLUDE RENEGOTIATING LEASES, DEPLOYING TELEHEALTH, E-VISIT SOLUTION TO PERFORM SERVICES REMOTELY

* U.S. PHYSICAL THERAPY - OTHER STEPS TO MITIGATE LOSSES INCLUDE SLOWING DEVELOPMENT OF NEW CLINICS, DELAYING POTENTIAL ACQUISITIONS, CUTTING OTHER EXPENSES

* U.S. PHYSICAL THERAPY - ADVERSE IMPACT FROM COVID-19 INCLUDES INCREASE IN CANCELLATIONS OF PHYSICAL THERAPY PATIENT APPOINTMENTS, DECLINE IN SCHEDULING OF NEW OR ADDITIONAL PATIENT APPOINTMENTS

* U.S. PHYSICAL THERAPY - AMENDED EMPLOYMENT AGREEMENTS FOR CHRISTOPHER READING, LAWRANCE MCAFEE, GLENN MCDOWELL AND GRAHAM REEVE

* U.S. PHYSICAL THERAPY - EXECUTIVE CHRISTOPHER READING’S SALARY WAS REDUCED BY 40%

* U.S. PHYSICAL THERAPY - EXECUTIVES LAWRANCE MCAFEE, GLENN MCDOWELL AND GRAHAM REEVE'S SALARIES WERE REDUCED BY 35% Source text: (bit.ly/2QOyWF6) Further company coverage:

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