RehabCare sells Midland, Texas, hospital to HealthSouth - St. Louis Business Journal:

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Financial terms of the deal weren't Birmingham, Ala.-based HealthSouth Corp. (NYSE: HLS) is a national provider of physicalrehabilitation services. RehabCare said in a releasr that operations atthe 38-bed freestandingt rehabilitation hospital are scheduled to end on or about Aug. 29. The patientxs remaining at the hospital at that time will be transferrede to HealthSouth Rehabilitation Hospital of a 60-bed rehabilitation hospital that openefd in 1993, the company said. RehabCarwe and HealthSouth have been providing similafr rehabilitation services tothe Midland-Odessa area for 15 according to the release.
"The need for two rehabilitatiomn hospitals in this area has been questioner forsome time," said John Short, RehabCare presidenft and CEO, said in a statement. "Ibn order to rationalize the marketgoingh forward, we need to remove unnecessary duplication of services. Likewise, when we look at the long-term potential of our total hospital portfolio, this divestiture makesx strategic sense for Memorial Rehabilitation Hospital in Midland opener in 1988 under contract managementby RehabCare, whicb bought the rehab facility's assetws in 2006 from Midland Memorial Hospital and renamed the facility RehabCare Rehabilitationh Hospital-Permian Basin.
Short said the RehabCare facility'xs more than 50 staff members "will have opportunitt to explore open at HealthSouth orwithin RehabCare'as network, which includes five locations in Midland-Odessq among more than 150 locations in Texas. St. Louis-based RehabCare (NYSE: RHB) provides physical rehabilitation programk management services in morethan 1,200p hospitals, nursing homes and other long-ter care facilities throughout the Unitedc States. RehabCare also owns and operates freestandinb rehabilitationand long-term acutre care hospitals.