On June 11, HealthSouth Corporation, a leading provider of post-acute care services, announced plans to buy the operations arm of Reliant Hospital Partners for $730 million. According to a news release, the deal is expected to close this year.
Reliant runs 11 inpatient rehabilitation hospitals in Texas, Massachusetts and Ohio, plus three inpatient satellite locations in Massachusetts, totaling 902 beds. All of Reliant's hospitals are leased, and seven of the leases are treated as capital leases for accounting purposes.
"The acquisition of the operations of Reliant Hospital Partners furthers HealthSouth's position as a leading provider of post-acute services," said Jay Grinney, HealthSouth president and chief executive officer in a press release. "Reliant's portfolio of high-quality inpatient rehabilitation hospitals complements our networks in the highly competitive Houston, Dallas-Fort Worth and Austin markets while providing entry into new markets in Abilene, Texas; Dayton, Ohio; and the greater Boston metropolitan area."
HealthSouth is one of the nation's largest providers of post-acute healthcare services, and offers both facility- and home-based services in 33 states and Puerto Rico.