American health care firms Select Medical and Banner Health have agreed to establish a joint venture (JV) to manage 38 physical therapy centres in Arizona and four acute inpatient rehabilitation hospitals located in Phoenix.

Banner Health will be the majority owner, whereas Select Medical will serve as managing partner.

The combined outpatient rehabilitation services will feature 26 Select Physical Therapy centres currently operating in the region besides 12 Banner Health Physical Therapy and Rehabilitation centres, as per the agreement.

Additionally, the JV will be responsible for constructing three new acute inpatient rehabilitation hospitals.

Construction is scheduled to commence this year, with completion expected in 2019.

In future, the existing hospitals will be combined into the new facilities to better serve the needs of patients requiring care resulting from stroke, spinal cord injury, brain injury, amputation, neurological disorders, among other conditions.

Banner Healthpresident and CEOPeter Finesaid: “This agreement brings together two top-ranked health care providers to serve Arizona. When Banner Health went searching for a partner for these specialty, post-acute care services, it quickly became apparent that Select Medical was the best fit.

The JV will also construct four inpatient rehabilitation hospitals at Banner University Medical Center Phoenix, Banner Boswell Medical Center in Sun City, Banner Del E. Webb Medical Center in Sun City West, and Banner Baywood Medical Center in Mesa, in Arizona.