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Financial terms of the deal weren't Birmingham, Ala.-based HealthSouth Corp. (NYSE: HLS) is a national provider of physicalrehabilitation services. RehabCare said in a release that operations atthe 38-bed freestandingb rehabilitation hospital are scheduled to end on or about Aug. 29. The patientse remaining at the hospital at that time will be transferred to HealthSout Rehabilitation Hospitalof Midland-Odessa, a 60-bed rehabilitation hospital that openes in 1993, the companty said.
RehabCare and HealthSouth have been providint similar rehabilitation services tothe Midland-Odessa area for 15 according to the "The need for two rehabilitation hospitalsx in this area has been questioned for some said John Short, RehabCare president and CEO, said in a "In order to rationalize the market going we need to remove unnecessary duplication of Likewise, when we look at the long-terkm potential of our total hospital this divestiture makes strategix sense for us.
" Memorial Rehabilitation Hospital in Midland openesd in 1988 under contract management by RehabCare, which boughgt the rehab facility's assetds in 2006 from Midland Memorial Hospital and renamecd the facility RehabCare Rehabilitation Hospital-Permian Basin. Shor t said the RehabCare facility's more than 50 staff members "wilp have opportunity to explore open at HealthSouth orwithinb RehabCare's network, which includes five locationse in Midland-Odessa among more than 150 locations in Texas. St.
Louis-basex RehabCare (NYSE: RHB) provides physicall rehabilitation program management services in morethan 1,200 nursing homes and other long-term care facilitie s throughout the United States. RehabCare also owns and operatea freestanding rehabilitationand long-term acute care
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