FOR IMMEDIATE RELEASE
HealthSouth to Purchase
The Rehabilitation Hospital of South Jersey
BIRMINGHAM,
Ala. —
HealthSouth Corporation (NYSE:HLS) announced today it has entered into a
definitive agreement, through one of its wholly owned subsidiaries, to purchase
The Rehabilitation Hospital of South Jersey, a 34-bed inpatient rehabilitation
hospital in Vineland, NJ, from The Mediplex/Cumberland Rehabilitation Limited
Partnership.
“We are very pleased to welcome The Rehabilitation Hospital
of South Jersey to HealthSouth’s nation-wide network of preeminent
rehabilitation hospitals,” said Jay Grinney, HealthSouth’s president and chief
executive officer. “The Rehabilitation Hospital of South Jersey, under the
outstanding leadership of Dr. Francis Bonner, has provided exceptional care to
patients in the South Jersey area for many
years and we look forward to continuing this tradition for many years to come.”
The acquisition of The Rehabilitation Hospital of South
Jersey adds a third New Jersey
rehabilitation hospital to HealthSouth’s northeast region. HealthSouth
currently operates HealthSouth Rehabilitation Hospital of New Jersey in Toms River
and Tinton Falls Rehabilitation
Hospital, a Joint Venture
of HealthSouth and Monmouth
Medical Center,
in Tinton Falls.
The closing of the transaction is subject to certain state
and federal regulatory approvals and is expected to take place late in the
second quarter or early in the third quarter of 2008.
About HealthSouthHealthSouth
is the nation’s largest provider of inpatient rehabilitation services.
Operating in 26 states across the country and in Puerto
Rico, HealthSouth serves more than 250,000 patients annually
through its network of inpatient rehabilitation hospitals, long-term acute care
hospitals, outpatient rehabilitation satellites, and home health agencies. HealthSouth
strives to be the health care company of choice for its patients, employees,
physicians and shareholders and can be found on the Web at
www.healthsouth.com.
Click here to contact us or call 732-460-5320 (Tinton Falls) or 732-244-3100 (Toms River) for more information.
Statements
contained in this press release which are not historical facts are
forward-looking statements. In addition, HealthSouth, through its senior
management, may from time to time make forward-looking public statements
concerning the matters described herein. All such estimates, projections, and
forward-looking information speak only as of the date hereof, and HealthSouth
undertakes no duty to publicly update or revise such forward-looking
information, whether as a result of new information, future events, or
otherwise. Such forward-looking statements are necessarily estimates based upon
current information and involve a number of risks and uncertainties.
HealthSouth’s actual results may differ materially from the results anticipated
in these forward-looking statements as a result of a variety of factors. While
it is impossible to identify all such factors, factors which could cause actual
results to differ materially from those estimated by HealthSouth include, but
are not limited to, any adverse outcome of various lawsuits, claims, and legal
or regulatory proceedings that may be brought against us or any adverse outcome
relating to the settlement of the federal securities class action previously
disclosed by us; significant changes in HealthSouth’s management team;
HealthSouth’s ability to continue to operate in the ordinary course and manage
its relationships with its creditors, including its lenders, bondholders,
vendors and suppliers, employees, and customers; changes, delays in, or
suspension of reimbursement for HealthSouth’s services by governmental or
private payors; changes in the regulation of the healthcare industry at either
or both of the federal and state levels; competitive pressures in the
healthcare industry and HealthSouth’s response thereto; HealthSouth’s ability
to obtain and retain favorable arrangements with third-party payors;
HealthSouth’s ability to attract and retain nurses, therapists, and other healthcare
professionals in a highly competitive environment with often severe staffing
shortages; general conditions in the economy and capital markets; and other
factors which may be identified from time to time in the Company’s SEC filings
and other public announcements, includingHealthSouth’s Form 10-K
for the year ended December 31, 2007.