Business
HealthSouth no longer operating overseas
NEWS IN BRIEF — Posted Aug. 28, 2006
HealthSouth Corp. plans to sell a rehabilitation hospital and some related assets in Australia, its only remaining international holding.
The Birmingham, Ala.-based outpatient services giant announced on Aug. 4 that it had reach an agreement to sell Cedar Court Rehabilitation Hospital in Melbourne, Australia, along with an outpatient center, stand-alone rehabilitation facility and an occupational rehabilitation therapy business, to Epworth Foundation and ING Management Ltd., entities affiliated with a hospital and a property trust.
Terms of the deal were not disclosed.
Meanwhile, HealthSouth delayed filing its second quarter earnings report, saying in a document filed with the Securities and Exchange Commission that it had spent substantial time and resources trying to reconstruct its historic financial and accounting records in the wake of a massive accounting scandal, and that it was still trying to improve its internal controls over such reporting.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2006/08/28/bibf0828.htm.