HealthSouth Completes Purchase of Sugar Land Rehabilitation Hospital

BIRMINGHAM, Ala., Sept. 20 /PRNewswire-FirstCall/ — HealthSouth Corporation (NYSE: HLS) today announced it has completed its previously announced purchase of Sugar Land Rehabilitation Hospital, a 50–bed inpatient rehabilitation hospital located in southwest Houston, Texas.  

“The acquisition of Sugar Land Rehabilitation Hospital complements our existing presence in Houston and reflects HealthSouth’s renewed emphasis on disciplined growth that we believe will bring additional value to our shareholders,” said HealthSouth President and CEO Jay Grinney.

“We welcome Sugar Land Rehabilitation Hospital to HealthSouth’s nationwide network of rehabilitation hospitals and look forward to building on the reputation for quality service this hospital has earned in southwest Houston,” said Frank Brown, president of the Texas region for HealthSouth.

This acquisition comes on the heels of HealthSouth announcing plans to begin construction of a new 40-bed inpatient rehabilitation hospital in the Cypress area of northwest Houston in the fourth quarter of 2010.

About Texas

HealthSouth currently operates 13 rehabilitation hospitals throughout Texas and one long-term acute care hospital located in Houston, Texas.

About HealthSouth

HealthSouth is the nation’s largest provider of inpatient rehabilitative healthcare services. Operating in 26 states across the country and in Puerto Rico, HealthSouth serves patients through its network of inpatient rehabilitation hospitals, long-term acute care hospitals, outpatient rehabilitation satellite clinics and home health agencies. HealthSouth’s hospitals provide a higher level of rehabilitative care to patients who are recovering from conditions such as stroke and other neurological disorders, orthopedic, cardiac and pulmonary conditions, brain and spinal cord injury, and amputations. HealthSouth can be found on the Web at www.healthsouth.com.

Statements contained in this press release which are not historical facts are forward-looking statements. In addition, HealthSouth, through its senior management, may from time to time make forward-looking public statements concerning the matters described herein. All such estimates, projections, and forward-looking information speak only as of the date hereof, and HealthSouth undertakes no duty to publicly update or revise such forward-looking information, whether as a result of new information, future events, or otherwise. Such forward-looking statements are necessarily estimates based upon current information and involve a number of risks and uncertainties. Actual results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors. While it is impossible to identify all such factors, factors which could cause actual results to differ materially from those estimated by HealthSouth include, but are not limited to, any adverse outcome of various lawsuits, claims, and legal or regulatory proceedings that may be brought against it; significant changes in HealthSouth’s management team; changes, delays in (including in connection with resolution of Medicare payment reviews or appeals), or suspension of reimbursement for HealthSouth’s services by governmental or private payors; changes in the regulation of the healthcare industry at either or both of the federal and state levels; competitive pressures in the healthcare industry and HealthSouth’s response thereto; general conditions in the local or national economy and capital markets; and other factors which may be identified from time to time in HealthSouth’s SEC filings and other public announcements, including HealthSouth’s Form 10K for the year ended December 31, 2009 and Form 10-Q for the quarters ended June 30, 2010 and March 31, 2010.

SOURCE HealthSouth Corporation