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  • Oct. 1, 2015, 6:12 PM
    • HealthSouth (NYSE:HLS) has closed the $730M acquisition of Reliant Hospital Partners' operations - 11 in-patient rehab hospitals (902 beds) in Texas, Massachusetts, and Ohio. The company expects to realize a $150M tax benefit related to the deal, and recognize $210M in capital lease obligations.
    • Reliant's ops had 2014 revenue of $249M and adjusted EBITDA of $82M. HealthSouth CEO Jay Grinney: "[The acquisition] provides us with additional geographic coverage in Houston, Dallas-Fort Worth and Austin, while allowing us to enter new markets in Abilene, Dayton and the Greater Boston metropolitan area. It also complements our existing home health presence in all but the Dayton market."
    • The news follows an agreement to buy CareSouth's home health business for $170M.
    | Oct. 1, 2015, 6:12 PM
  • Aug. 31, 2015, 10:10 AM
    • HealthSouth (HLS +0.2%) acquires the home health agency operations of CareSouth Health System for $170M in cash. The business consists of 45 home health locations in seven states. It posted $104M in revenues in 2014.
    • HealthSouth will fund the transaction with cash on hand and borrowings under its senior secured credit facility.
    | Aug. 31, 2015, 10:10 AM
  • Jun. 12, 2015, 7:18 AM
    • HealthSouth (NYSE:HLS) acquires Reliant Hospital Partners, LLC for $730M in cash. Reliant operates 11 inpatient rehabilitation hospitals in Texas, Massachusetts and Ohio, plus three inpatient satellite locations in Massachusetts for a total of 902 beds. The transaction will be immediately accretive and is expected to close this year.
    • In 2014, Reliant generated¬†$249M in revenues and ~$89M in non-GAAP EBITDA.
    | Jun. 12, 2015, 7:18 AM
  • Nov. 24, 2014, 5:43 PM
    • HealthSouth (NYSE:HLS) climbed 5.2% today as investors liked its $750M purchase of the owner of Encompass Home Health, expanding its own home health business with another 140 locations across 13 states, while also saying further healthcare acquisitions may be likely in the future.
    • The acquisition will allow patients who are being discharged from HLS hospitals to continue their rehabilitation at home, under the care of Encompass; many of these older patients currently enter skilled nursing facilities to rehabilitate from injuries, strokes or other health episodes.
    • The deal allows HLS to expand into a separate post-acute care vertical with a leading provider to participate in the coming bundled payments system Medicare and Medicaid plans on implementing, according to Obsidian Research.
    | Nov. 24, 2014, 5:43 PM