Post Acute Medical (the "Company") (http://www.postacutemedical.com) today announced the purchase and immediate operation of 40-bed Hill Country Specialty Hospital. The acquisition is strategic in the Company's overall expansion taking place throughout the region and is the first of four new hospitals the Company is adding in the region. As of October 1, 2011, the facility has changed its name to Warm Springs Specialty Hospital of New Braunfels, a subsidiary of Post Acute Medical, LLC.
The hospital offers excellent access to the I-35 corridor from San Antonio and Austin. The Warm Springs Specialty Hospital of New Braunfels location will benefit from the Post Acute Medical business model and expand clinical programs as well as physicians referring to the facility. There will be a coordination of efforts with Luling and San Antonio Warm Springs locations to ensure ease of patient transfer through a well-coordinated admission process.
Post Acute Medical operates a 65-bed rehabilitation hospital in San Antonio, Texas, with long-term acute care hospitals in Luling, Texas; Victoria, Texas; and Covington, LA. Future expansion in the San Antonio area will include a 34-bed rehabilitation hospital in Thousand Oaks and a 40-bed rehabilitation hospital in the Westover Hills area, which are both under construction. Also, soon to be under construction is a new 26-bed hospital in Victoria, which when completed will offer a total of 52 beds.
Anthony Misitano, principal and CEO of Post Acute Medical, LLC, said, "We are delighted to add Warm Springs Specialty Hospital of New Braunfels to our hospital system. We believe significant synergies will be realized going forward. Patients and families have trusted their post-acute healthcare to Post Acute Medical and its subsidiary Warm Springs Rehabilitation System for over 70 years and we look forward to continuing the tradition to better meet the rehabilitation needs of patients in the New Braunfels region, as well as all the markets we serve."
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