RehabCare Announces New LTACH Joint Venture

Posted by Jason Greis on July 14, 2009 under Industry News | Be the First to Comment |  Print

RehabCare Group, Inc. (NYSE: RHB) announced June 30, 2009 that it had entered into an agreement to acquire certain assets from Gulf States LTAC of Dallas, formerly owned by Gulf States Health Services and a group of Dallas-area physicians.  Financial terms of the agreement were not disclosed. 

As a result, RehabCare and certain Dallas-area physicians will own 80% of the interests of a newly formed joint venture entity and the physicians will own the remaining 2o%.  RehabCare will manage the daily operations of the 60-bed LTACH located at 8050 Meadow Road in Dallas, which will be renamed Dallas LTAC Hospital.  Dallas LTAC Hospital will represent RehabCare’s twelfth freestanding hospital nationwide and its sixth LTACH.  Please click here to view RehabCare’s  press release providing addition information regarding this transaction.

Jason S. Greis
312.849.8217
jgreis@mcguirewoods.com