Profile: HealthSouth Corp (HLS)
21 Aug 2014
HealthSouth Corporation (HealthSouth), incorporated on January 23, 1984, is an owner and operator of inpatient rehabilitation hospitals. As of December 31, 2011, the Company operated 99 inpatient rehabilitation hospitals (including three hospitals that operate as joint ventures), 26 outpatient rehabilitation satellite clinics (operated by its hospitals, including one joint venture satellite), and 25 licensed, hospital-based home health agencies. As of December 31, 2011, its inpatient rehabilitation hospitals had 6,461 licensed beds (excluding the three hospitals that had 234 licensed beds and operated as joint ventures). In addition to HealthSouth hospitals, it manages three inpatient rehabilitation units through management contracts. In August 2011, the Company sold five long-term acute care hospitals (LTCHs). In November 2011, the Company completed its purchase of substantially all of the assets of Drake Center's two rehabilitation-focused patient care units located in Cincinnati, Ohio. In July 2012, it acquired the 36-bed inpatient adult rehabilitation unit of CHRISTUS Santa Rosa Hospital - Medical Center. In April 2013, it announced that it has completed the purchase of Walton Rehabilitation Hospital, a 58-bed inpatient rehabilitation hospital formerly owned by Georgia Rehabilitation Institute, Inc., and doing business as Walton Rehabilitation Hospital in Augusta, Ga. In June 2013, Surgical Care Affiliates Inc, a unit of HealthSouth acquired Health Inventures Inc. In June 2014, HealthSouth Corp acquired additional equity interest in Fairlawn Rehabilitation Hospital in Worcester, Massachusetts from its joint venture partner, UMass Memorial Health Care. In June 2014, HealthSouth Corp raised its interest to 80% from 50%, in Fairlawn Rehabilitation Hospital in Worcester, Massachusetts from its joint venture partner, UMass Memorial Health Care.
The Company’s inpatient rehabilitation hospitals offer specialized rehabilitative care across an array of diagnoses. The majority of patients it serves experience physical and cognitive disabilities due to medical conditions, such as strokes, neurological disorders, hip fractures, head injuries, and spinal cord injuries, which are generally non-discretionary in nature and require rehabilitative healthcare services in an inpatient setting. Patient care is provided by nursing and therapy staff as directed by physician orders.
3660 Grandview Parkway
BIRMINGHAM AL 35243