LifeCare is acquiring all six of Birmingham, Ala.-based HealthSouth Corp.‘s long-term acute care facilities for $120 million, the companies said. The deal is expected to close in the third quarter, pending regulatory approval. LifeCare said it does not plan any staff or service cuts.
The sale “reinforces HealthSouth’s strategic focus on its 97 core inpatient rehabilitation hospitals,” President and CEO Jay Grinney said in a statement.
Conversely, “Our company’s primary focus is the operation of long-term acute care hospitals,” LifeCare CEO Phillip B. Douglas said in a statement.
The HealthSouth Regional Specialty Hospital in Lower Allen Township is a 68-bed facility specializing in pulmonary care, wound care and patients with multiple, medically complex conditions.
HealthSouth operates several other midstate rehabilitation hospitals and outpatient clinics, including the nearby 55-bed HealthSouth Rehabilitation Hospital of Mechanicsburg.
The other hospitals sold in the LifeCare deal are in Pittsburgh; Houston; Las Vegas; Sarasota, Fla.; and Ruston, La. The deal includes two satellite sites of the Ruston facility.