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EXHIBIT (a)(5)(A)
FOR IMMEDIATE RELEASE
U.S. PHYSICAL THERAPY ANNOUNCES ISSUER TENDER
Houston, TX - June 30, 2000 - U.S. Physical Therapy, Inc. (Nasdaq National
Market:USPH) today announced that it plans to purchase up to 500,000 shares of
its common stock at a price of $11.00 per share (the "Offer"), which represents
15.2% of the shares outstanding. All of the shares that are properly tendered
(and not withdrawn) will, subject to possible proration and provisions relating
to the tender of "odd lots," be purchased for cash at the purchase price of
$11.00 per share. All other shares that are tendered and not purchased will be
returned to the stockholder.
The Offer is scheduled to commence on Tuesday, July 11, 2000 and expire at 5:00
p.m., New York City time, on Thursday, August 10, 2000, unless extended by the
Company. The Offer is explained in detail in the Offer to Purchase, Letter of
Transmittal, and the Notice of Guaranteed Delivery that can be obtained upon
commencement of the Offer either from Continental Stock Transfer & Trust
Company, 2 Broadway, New York, New York 10004 (telephone: (212) 509-4000
(ext.535)) or from J. Michael Mullin, Chief Financial Officer, U.S. Physical
Therapy, Inc., 3040 Post Oak Blvd., Suite 222, Houston, Texas 77056 (telephone:
(713) 297-7000).
Roy W. Spradlin, President and Chief Executive Officer, commented, "This stock
repurchase program reflects the belief of our Board of Directors that U.S.
Physical Therapy's common shares represent excellent value at current price
levels."
U.S. Physical Therapy and its partners currently operate 130 outpatient clinics
in 30 states and manage seven PT facilities for third parties, including
physician practices.
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CONTACT: -OR- USPH'S INVESTOR RELATIONS:
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U.S. Physical Therapy, Inc. The Equity Group Inc.
J. Livingston Kosberg, Chairman Linda Latman (212) 836-9609
Roy W. Spradlin, President and CEO Robert Goldstein (212) 371-8660
(713) 297-7000
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