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May 19, 2011

LifeCare to Acquire Six Long-Term Acute Care Hospitals

US-based HealthSouth has said that it will sell its six long-term acute care hospitals to Texas-based LifeCare Holdings for about $120m. The firm will sell its hospitals in Las Vegas, Texas, Sarasota, Pittsburgh, Mechanicsburg and North Louisiana, all of which provide inpatient rehabil

By cms admin

US-based HealthSouth has said that it will sell its six long-term acute care hospitals to Texas-based LifeCare Holdings for about $120m.

The firm will sell its hospitals in Las Vegas, Texas, Sarasota, Pittsburgh, Mechanicsburg and North Louisiana, all of which provide inpatient rehabilitative healthcare services.

HealthSouth plans to use the proceeds from the transaction to invest in the retirement of 10.75% senior notes, reports RTT News,.

After completion of the acquisition, LifeCare will operate 28 long-term acute care hospitals in ten US states.

The deal is expected to close in the third quarter of 2011.

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