HealthSouth sheds units
NEWS IN BRIEF — Posted May 7, 2007
HealthSouth Corp. said it has sold 54 freestanding diagnostic imaging centers for $47.5 million to a Los Angeles-based private equity firm. The Gores Group purchased the facilities, located in 19 states. Meanwhile, Birmingham, Ala.-based HealthSouth also says it has raised another $20.5 million over the last year by selling various imaging facilities.
HealthSouth announced in August 2006 that it would sell or spin off three of its four divisions to concentrate solely on inpatient rehabilitation care, and use the bulk of the proceeds to pay down debt. This was part of HealthSouth's plan to recover from a massive accounting scandal that nearly sent the company into bankruptcy four years ago.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2007/05/07/bibf0507.htm.