HealthSouth Corporation (NYSE: HLS) today announced it has signed a letter of intent to acquire the 36-bed inpatient adult rehabilitation unit of CHRISTUS Santa Rosa Hospital – Medical Center. HealthSouth intends to relocate the unit into its existing inpatient rehabilitation hospital, HealthSouth Rehabilitation Institute of San Antonio (RIOSA). The purchase is expected to be finalized in approximately 30 days and is subject to customary closing conditions.
"The agreement between HealthSouth and CHRISTUS Santa Rosa Health System will provide a tremendous opportunity for both healthcare providers to focus on their core business," said Frank Brown, president of HealthSouth's southwest region. "HealthSouth is delighted to continue to offer high-quality inpatient rehabilitation services in a hospital setting and we look forward to working with CHRISTUS Santa Rosa Health System to provide for the healthcare needs of the San Antonio community."
No interruptions to patient care are expected during the transition to the new ownership. HealthSouth RIOSA, a 108-bed inpatient rehabilitation hospital, will be able to accommodate the additional patients with a continued focus on high-quality inpatient rehabilitation services. HealthSouth currently plans to add additional hospital employees to accommodate the expected increase in patients due to the consolidation. HealthSouth and CHRISTUS Santa Rosa Health System will work diligently to identify potential opportunities for current associates of the inpatient adult rehabilitation unit.
CHRISTUS Santa Rosa Health System has been exploring options for the CHRISTUS Santa Rosa Hospital – Medical Center inpatient rehabilitation unit for some time, and in doing so considered several potential partners. CHRISTUS Santa Rosa Health System President/CEO Pat Carrier said, "We selected HealthSouth RIOSA because it is a highly-regarded rehabilitation hospital whose mission and approach to patient care is consistent with that of CHRISTUS Santa Rosa. The inpatient rehabilitation program at CHRISTUS Santa Rosa Hospital – Medical Center has a strong reputation for quality and patient satisfaction. However, being based inside of the hospital has made it difficult for the program to compete with larger, freestanding facilities all of which have made concerted efforts to increase the level and scope of inpatient rehabilitative services offered to patients. We are excited about the opportunity for HealthSouth RIOSA to acquire our excellent program and continue to offer patients the highest level of care and service in a manner consistent with our mission and values."
With its recent announcement about converting its City Centre campus to a freestanding children's hospital, CHRISTUS Santa Rosa is transferring its Acute Care for the Elderly, digestive diseases, and enhanced cardiovascular service lines from its downtown City Centre to its Medical Center facility. HealthSouth's acquisition of the inpatient rehabilitation unit will allow CHRISTUS Santa Rosa to support these and other programs.
CHRISTUS Santa Rosa will continue to operate the inpatient and outpatient rehabilitation services associated with Children's Hospital, and will continue to operate the freestanding outpatient rehabilitation programs located at its Medical Center campus and in New Braunfels.
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