Business

HealthSouth no longer operating overseas

NEWS IN BRIEF — Posted Aug. 28, 2006

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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.

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