US-based inpatient rehabilitative hospitals operator HealthSouth has signed an agreement to acquire Cardinal Hill Rehabilitation Hospital from the Kentucky Easter Seal Society.
Terms of the deal were not disclosed.
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HealthSouth central region president Barb Jacobsmeyer said: "The purchase of Cardinal Hill Rehabilitation Hospital by HealthSouth will uniquely position the hospital to continue its well-known and respected legacy as a premier provider of physical rehabilitation.
"We are pleased to welcome the hospital to our nationwide network and look forward to providing high-quality rehabilitation services to the residents of Lexington and the region who have experienced stroke, trauma, brain and orthopaedic injuries or other major illnesses or injuries."
Located in Lexington, Cardinal Hill includes 158 licensed inpatient rehabilitation beds and 74 licensed skilled nursing beds. The hospital is said to provide inpatient rehabilitation, skilled nursing, outpatient rehabilitation and home health services.
Cardinal Hill Rehabilitation Hospital CEO Gary Payne said: "The sale of the hospital will ensure Cardinal Hill Rehabilitation Hospital and the mission and philanthropic work of the Cardinal Hill Foundation (Kentucky Easter Seal Society) are in the best position possible to successfully navigate through times of change."
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By GlobalDataSubject to customary closing conditions including regulatory approvals, the transaction is expected to be completed in the first half of 2015.
HealthSouth provides post-acute healthcare services, including facility-based and home-based post-acute services in 33 states and Puerto Rico.
