REHABCLINICS, INC. ACQUIRES HAWLEY PHYSICAL THERAPY, INC.
REHABCLINICS, INC. ACQUIRES HAWLEY PHYSICAL THERAPY, INC. VALLEY FORGE, Pa., Sept. 29 /PRNewswire/ -- RehabClinics, Inc. (NASDAQ: RCII), today announced it has acquired Hawley Physical Therapy, Inc., of San Jose, Calif. Terms of the acquisition were not disclosed. Hawley Physical Therapy operates two outpatient clinics, one in San Jose and one in Mountain View, Calif. Commenting on the acquisition, RCI President James New stated, "The addition of Hawley Physical Therapy's two clinics to our present two facilities in Cupertino and Santa Clara, Calif., will provide a more convenient network to our patients and referral sources in Northern California." RCI's strategy is to develop the most extensive network of private pay outpatient physical therapy clinics in selected markets through acquisitions and internal growth. This strategy is designed to capitalize upon the highly fragmented nature of the outpatient physical therapy industry, and the limited professional management, marketing and sales, information systems and access to capital which typically characterizes these practices. RCI has already established itself as one of the largest outpatient physical therapy companies in the country with 86 clinics in 11 states. -0- 9/29/92 /CONTACT: James C. New, president, or Alan N. Vinick, senior vice president of RCI, 215-631-1873; or Susan Noonan or Noonan/Russo Communications, 212-979-9180, for RCI/ (RCII) CO: RehabClinics, Inc.; Hawley Physical Therapy, Inc. ST: Pennsylvania, California IN: HEA SU: TNM
GK-TS -- NY011 -- 4227 09/29/92 08:59 EDT
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|Date:||Sep 29, 1992|
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