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<span id="midArticle_0"/> (Reuters) - HealthSouth Corp said it wouldbuy a private rehabilitation hospital operator for $730 millionin cash to expand its post-acute care business into new markets.
<span id="midArticle_1"/>The acquisition of Reliant Hospital Partners will strengthenHealthSouth's position in the Houston, Dallas-Fort Worth andAustin, Texas markets, while giving it new locations in Abilene,Texas; Dayton, Ohio; and the Boston area.
<span id="midArticle_2"/>Reliant, which has a total of 902 beds, operates 11in-patient rehabilitation hospitals and three in-patientsatellite locations in Massachusetts.
<span id="midArticle_3"/> <span class="first-article-divide"/>The company reported revenue of about $249 million in 2014.
<span id="midArticle_4"/>In-patient rehabilitation, which helps people gain strengthand mobility after illness or surgery, is HealthSouth's largestbusiness, generating revenue of about $630 million in the firstquarter of 2015.
<span id="midArticle_5"/> <span class="second-article-divide"/>HealthSouth bought Encompass Home Health and Hospice inNovember to strengthen its other business - home health - byadding 140 locations in 13 states.
<span id="midArticle_6"/>The post-acute care industry has been consolidating ascompanies seek to expand geographically and provide a broaderrange of services.
<span id="midArticle_7"/> <span class="third-article-divide"/>Kindred Healthcare Inc bought Gentiva HealthServices Inc last year, while Skilled Healthcare Group Inc bought privately owned Genesis HealthCare.
<span id="midArticle_8"/>HealthSouth said it would fund the acquisition with cash andhand and through an issue of senior notes.
<span id="midArticle_9"/>Wells Fargo Securities is HealthSouth's financial adviser,while Skadden, Arps, Slate, Meagher & Flom LLP is its legaladviser. (Reporting by Amrutha Penumudi in Bengaluru; Editing by DonSebastian and Ted Kerr)
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<span id="midArticle_0"/> (Reuters) - HealthSouth Corp said it wouldbuy a private rehabilitation hospital operator for $730 millionin cash to expand its post-acute care business into new markets.
<span id="midArticle_1"/>The acquisition of Reliant Hospital Partners will strengthenHealthSouth's position in the Houston, Dallas-Fort Worth andAustin, Texas markets, while giving it new locations in Abilene,Texas; Dayton, Ohio; and the Boston area.
<span id="midArticle_2"/>Reliant, which has a total of 902 beds, operates 11in-patient rehabilitation hospitals and three in-patientsatellite locations in Massachusetts.
<span id="midArticle_3"/> <span class="first-article-divide"/>The company reported revenue of about $249 million in 2014.
<span id="midArticle_4"/>In-patient rehabilitation, which helps people gain strengthand mobility after illness or surgery, is HealthSouth's largestbusiness, generating revenue of about $630 million in the firstquarter of 2015.
<span id="midArticle_5"/> <span class="second-article-divide"/>HealthSouth bought Encompass Home Health and Hospice inNovember to strengthen its other business - home health - byadding 140 locations in 13 states.
<span id="midArticle_6"/>The post-acute care industry has been consolidating ascompanies seek to expand geographically and provide a broaderrange of services.
<span id="midArticle_7"/> <span class="third-article-divide"/>Kindred Healthcare Inc bought Gentiva HealthServices Inc last year, while Skilled Healthcare Group Inc bought privately owned Genesis HealthCare.
<span id="midArticle_8"/>HealthSouth said it would fund the acquisition with cash andhand and through an issue of senior notes.
<span id="midArticle_9"/>Wells Fargo Securities is HealthSouth's financial adviser,while Skadden, Arps, Slate, Meagher & Flom LLP is its legaladviser. (Reporting by Amrutha Penumudi in Bengaluru; Editing by DonSebastian and Ted Kerr)
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