HealthSouth agrees to acquire Cardinal Hill Rehabilitation Hospital from Kentucky Easter Seal Society

HealthSouth Corporation (NYSE: HLS) today announced it has entered into an agreement to purchase Cardinal Hill Rehabilitation Hospital in Lexington, Kentucky, from the Kentucky Easter Seal Society, Inc.

"Cardinal Hill Rehabilitation Hospital has a long history of providing high-quality care. The purchase of Cardinal Hill Rehabilitation Hospital by HealthSouth will uniquely position the hospital to continue its well-known and respected legacy as a premier provider of physical rehabilitation," said Central Region President for HealthSouth Barbara Jacobsmeyer. "We are pleased to welcome the hospital to our nationwide network and look forward to providing high-quality rehabilitation services to the residents of Lexington and the region who have experienced stroke, trauma, brain and orthopedic injuries or other major illnesses or injuries."

"We are delighted to be joining the HealthSouth organization. HealthSouth was selected based on its historical performance to an exhaustive set of criteria including: quality of patient care, expertise; innovation; integrated electronic medical record; ability to negotiate payor contracts; size; financial viability; and patient and staff satisfaction," said Chief Executive Officer of Cardinal Hill Rehabilitation Hospital Gary Payne. "The sale of the hospital will ensure Cardinal Hill Rehabilitation Hospital and the mission and philanthropic work of the Cardinal Hill Foundation (Kentucky Easter Seal Society) are in the best position possible to successfully navigate through times of change."

Cardinal Hill Rehabilitation Hospital, comprised of 158 licensed inpatient rehabilitation beds and 74 licensed skilled nursing beds, will continue to provide high-quality inpatient rehabilitation, skilled nursing, outpatient rehabilitation and home health services. The hospital will remain in the current location at 2050 Versailles Road in Lexington, Kentucky.

The agreement is subject to customary closing conditions including regulatory approvals. The parties expect to close the transaction in the first half of 2015.

SOURCE HealthSouth Corporation