Vibra Healthcare to acquire Idaho hospital
Cumberland County-based Vibra Healthcare has signed agreements to take up day-to-day operations and acquire nearly all the assets of Complex Care Hospital of Idaho, pending approval of the bankruptcy court overseeing reorganization of that hospital's corporate parent.
An April 2 hearing is scheduled in the U.S. Bankruptcy Court for the District of Delaware that will look at Complex Care's sale to Vibra, as well as other issues in the Chapter 11 bankruptcy of LCI Holdco, the parent of Texas-based LifeCare Holdings Inc., according to the companies. LifeCare owns Complex Care. LCI Holdco filed for Chapter 11 in December,
"We are pleased to add the Complex Care Hospital of Idaho to the Vibra network of specialty hospitals and to work with LifeCare to ensure a seamless transition for CCHI patients and their families." Brad Hollinger, Vibra founder, chairman and CEO, said in a statement.
The planned acquisition will be by Vibra's affiliate, Vibra Hospital of Boise, according to the company.
Lower Allen Township-based Vibra is one of Central Pennsylvania's fastest-growing companies. It had 2011 revenue of $443 million, or a 12 percent growth from the previous year, and employs more than 5,000 people at 52 locations in 11 states, according to the company and Business Journal records.
Last July, Vibra signed an agreement with a Kentucky senior-living company to manage two rehabilitation hospitals. In December, Vibra and its sister firm The Hollinger Group began construction on a 58,000-square-foot medical rehab and senior-living community near Mechanicsburg.