BIRMINGHAM, Ala., July 31 HealthSouthCorporation (NYSE: HLS) has finalized, through one of its wholly ownedsubsidiaries, its previously announced purchase of The Rehabilitation Hospitalof South Jersey, a 34-bed inpatient rehabilitation hospital in Vineland, NJ,from The Mediplex/Cumberland Rehabilitation Limited Partnership.
"The Rehabilitation Hospital of South Jersey, under the outstandingleadership of Dr. Francis Bonner, has provided exceptional care to patients inthe South Jersey area for many years and we look forward to continuing thistradition for many years to come," said Jay Grinney, HealthSouth's presidentand chief executive officer. "We are very pleased to welcome the hospital toHealthSouth's nationwide network of preeminent rehabilitation hospitals."
The acquisition of The Rehabilitation Hospital of South Jersey adds athird New Jersey rehabilitation hospital to HealthSouth's northeast region.HealthSouth currently operates HealthSouth Rehabilitation Hospital of NewJersey in Toms River and Tinton Falls Rehabilitation Hospital, a Joint Ventureof HealthSouth and Monmouth Medical Center, in Tinton Falls.
HealthSouth is the nation's largest provider of inpatient rehabilitationservices. Operating in 26 states across the country and in Puerto Rico,HealthSouth serves more than 250,000 patients annually through its network ofinpatient rehabilitation hospitals, long-term acute care hospitals, outpatientrehabilitation satellites, and home health agencies. HealthSouth strives to bethe health care company of choice for its patients, employees, physicians andshareholders and can be found on the Web at www.healthsouth.com .
Statements contained in this press release which are not historical factsare forward-looking statements. In addition, HealthSouth, through its seniormanagement, may from time to time make forward-looking public statementsconcerning the matters described herein. All such estimates, projections, andforward-looking information speak only as of the date hereof, and HealthSouthundertakes no duty to publicly update or revise such forward-lookinginformation, whether as a result of new information, future events, orotherwise. Such forward-looking statements are necessarily estimates basedupon current information and involve a number of risks and uncertainties.HealthSouth's actual results may differ materially from the resultsanticipated in these forward-looking statements as a result of a variety offactors. While it is impossible to identify all such factors, factors whichcould cause actual results to differ materially from those estimated byHealthSouth include, but are not limited to, any adverse outcome of variouslawsuits, claims, and legal or regulatory proceedings that may be broughtagainst us or any adverse outcome relating to the settlement of the federalsecurities class action previously disclosed by us; significant changes inHealthSouth's management team; HealthSouth's ability to continue to operate inthe ordinary course and manage its relationships with its creditors, includingits lenders, bondholders, vendors and suppliers, employees, and customers;changes, delays in, or suspension of reimbursement for HealthSouth's servicesby governmental or private payors; changes in the regulation of the healthcareindustry at either or both of the federal and state levels; competitivepressures in the healthcare industry and HealthSouth's response thereto;HealthSouth's ability to obtain and retain favorable arrangements withthird-party payors; HealthSouth's ability to attract and retain nurses,therapists, and other healthcare professionals in a highly competitiveenvironment with often severe staffing shortages; general conditions in theeconomy and capital markets; and other factors which may be identified fromtime to time in the Company's SEC filings and other public announcements,including HealthSouth's Form