Business
RehabCare Group buys hospitals
NEWS IN BRIEF — Posted June 27, 2005
RehabCare Group, a provider of therapy and program management services, is taking over four freestanding hospitals under a new purchase agreement.
The St. Louis-based company has reached a deal to buy the operating assets of MeadowBrook Healthcare for $35 million.
MeadowBrook, based in Birmingham, Ala., operates two inpatient rehabilitation hospitals and two long-term acute care hospitals in Florida, Louisiana, Oklahoma and Texas. It had revenues of approximately $53 million in 2004.
RehabCare offers therapy and management services in conjunction with more than 890 hospitals and skilled nursing facilities in 37 states.
The deal is expected to close by the end of July.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2005/06/27/bibf0627.htm.












