HealthSouth Corporation Signs Letter Of Intent To Acquire Adult Inpatient Rehabilitation Unit Of CHRISTUS Santa Rosa Hospital - Medical Center

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HealthSouth Corporation Signs Letter Of Intent To Acquire Adult Inpatient Rehabilitation Unit Of CHRISTUS Santa Rosa Hospital - Medical Center

Published on Tuesday, 19 June 2012 16:38 Written by TradersHuddle Staff

SAN ANTONIO and BIRMINGHAM, Ala., June 19, 2012 /PRNewswire/ -- HealthSouth Corporation (NYSE: HLS) today announced it has signed a letter of intent to acquire the 36-bed inpatient adult rehabilitation unit of CHRISTUS Santa Rosa Hospital – Medical Center. HealthSouth intends to relocate the unit into its existing inpatient rehabilitation hospital, HealthSouth Rehabilitation Institute of San Antonio (RIOSA). The purchase is expected to be finalized in approximately 30 days and is subject to customary closing conditions.

"The agreement between HealthSouth and CHRISTUS Santa Rosa Health System will provide a tremendous opportunity for both healthcare providers to focus on their core business," said Frank Brown, president of HealthSouth's southwest region. "HealthSouth is delighted to continue to offer high-quality inpatient rehabilitation services in a hospital setting and we look forward to working with CHRISTUS Santa Rosa Health System to provide for the healthcare needs of the San Antonio community."

No interruptions to patient care are expected during the transition to the new ownership. HealthSouth RIOSA, a 108-bed inpatient rehabilitation hospital, will be able to accommodate the additional patients with a continued focus on high-quality inpatient rehabilitation services. HealthSouth currently plans to add additional hospital employees to accommodate the expected increase in patients due to the consolidation. HealthSouth and CHRISTUS Santa Rosa Health System will work diligently to identify potential opportunities for current associates of the inpatient adult rehabilitation unit.

CHRISTUS Santa Rosa Health System has been exploring options for the CHRISTUS Santa Rosa Hospital – Medical Center inpatient rehabilitation unit for some time, and in doing so considered several potential partners. CHRISTUS Santa Rosa Health System President/CEO Pat Carrier said, "We selected HealthSouth RIOSA because it is a highly-regarded rehabilitation hospital whose mission and approach to patient care is consistent with that of CHRISTUS Santa Rosa. The inpatient rehabilitation program at CHRISTUS Santa Rosa Hospital – Medical Center has a strong reputation for quality and patient satisfaction. However, being based inside of the hospital has made it difficult for the program to compete with larger, freestanding facilities all of which have made concerted efforts to increase the level and scope of inpatient rehabilitative services offered to patients. We are excited about the opportunity for HealthSouth RIOSA to acquire our excellent program and continue to offer patients the highest level of care and service in a manner consistent with our mission and values."

With its recent announcement about converting its City Centre campus to a freestanding children's hospital, CHRISTUS Santa Rosa is transferring its Acute Care for the Elderly, digestive diseases, and enhanced cardiovascular service lines from its downtown City Centre to its Medical Center facility. HealthSouth's acquisition of the inpatient rehabilitation unit will allow CHRISTUS Santa Rosa to support these and other programs.

CHRISTUS Santa Rosa will continue to operate the inpatient and outpatient rehabilitation services associated with Children's Hospital, and will continue to operate the freestanding outpatient rehabilitation programs located at its Medical Center campus and in New Braunfels.

About CHRISTUS Santa Rosa Health System

Founded in 1869 by the Sisters of Charity of the Incarnate Word of Houston and San Antonio, CHRISTUS Santa Rosa is a Catholic, faith-based, nonprofit health and wellness ministry dedicated to extending the healing ministry of Jesus Christ and providing the highest quality medical care and services available. As one of the top health care organizations in South-Central Texas, CHRISTUS Santa Rosa has five hospital campuses, with campuses located in the South Texas Medical Center, in New Braunfels, in Westover Hills, and a short-stay surgical hospital in Alamo Heights. Located downtown, the CHRISTUS Santa Rosa Children's Hospital will become the Children's Hospital of San Antonio - known as the first hospital in San Antonio solely dedicated to the care of children. The Children's Hospital is an academic teaching facility affiliated with the University of Texas Health Science Center at San Antonio. CHRISTUS Santa Rosa Health System also owns a majority interest in CHRISTUS Santa Rosa Physicians Ambulatory Surgery Centers – San Antonio, LLC, a joint venture physician partnership which is comprised of three outpatient surgery centers in San Antonio with facilities in Alamo Heights, Stone Oak, and the Medical Center. Additionally, CHRISTUS Santa Rosa Health System owns a majority interest in the CHRISTUS Santa Rosa Physicians Ambulatory Surgery Center in New Braunfels, a joint venture physician partnership. CHRISTUS Santa Rosa is the preferred health system of the San Antonio SPURS. For additional information on CHRISTUS Santa Rosa, visit www.christussantarosa.org. Find us on Facebook at www.facebook.com/christussantarosa and follow us on Twitter at http://twitter.com/CSRHS.

About HealthSouth

HealthSouth is the nation's largest owner and operator of inpatient rehabilitation hospitals in terms of revenues, number of hospitals, and patients treated and discharged. Operating in 27 states across the country and in Puerto Rico, HealthSouth serves patients through its network of inpatient rehabilitation hospitals, outpatient rehabilitation satellite clinics and home health agencies. HealthSouth's hospitals provide a higher level of rehabilitative care to patients who are recovering from conditions such as stroke and other neurological disorders, orthopedic, cardiac and pulmonary conditions, brain and spinal cord injuries, and amputations. HealthSouth can be found on the Web at www.healthsouth.com.

Statements contained in this press release which are not historical facts, such as those relating to the likelihood, timing and effects of the completion of this development project, are forward-looking statements. In addition, HealthSouth 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 or events may differ materially from those 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 or events to differ materially from those anticipated include, but are not limited to, any adverse outcome of various lawsuits, claims, and legal or regulatory proceedings that may be brought by or against the Company; the possibility that this project will experience unexpected delays; the risk of a significant adjustment to the cost of completion; 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 attract and retain nurses, therapists, and other healthcare professionals in a highly competitive environment with often severe staffing shortages and the impact on HealthSouth's labor expenses from potential union activity and staffing shortages; changes, delays in (including in connection with resolution of Medicare payment reviews or appeals), or suspension of reimbursement for HealthSouth's services by governmental or private payors; general conditions in the economy and capital markets; and other factors which may be identified from time to time in HealthSouth's SEC filings and other public announcements, including HealthSouth's Form 10-K for the year ended December 31, 2011 and Form 10-Q for the quarter ended March 31, 2012.

HealthSouth Contacts:	CHRISTUS Santa Rosa Health System Contact:
Media:	Lindsey Grizzelle, 210-326-6307
Casey Lassiter, 205-969-6176 or 205-447-6410
Investor Relations:
Mary Ann Arico, 205-969-6175

SOURCE HealthSouth Corporation

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