Navigation Links
HealthSouth Finalizes Sale of Corporate Campus to Daniel Corporation
Date:3/31/2008

BIRMINGHAM, Ala., March 31 /PRNewswire-FirstCall/ -- HealthSouth Corporation (NYSE: HLS) today announced it has finalized the sale of its corporate campus, located in Birmingham, Ala., to Daniel Corporation, a Birmingham-based, full-service real estate organization, for $43.5 million in cash and a 40% residual interest in the "Digital Hospital." In addition, HealthSouth has entered into a long-term lease arrangement with Daniel Corporation to maintain its corporate headquarters on the property. On January 23, 2008, HealthSouth announced that it had reached a definitive agreement for this sale.

The sale includes the 103-acre corporate campus and all related buildings including a 200,000 square-foot corporate headquarters building, the Cahaba Grand Conference Center, and an incomplete 13-story building formerly called the "Digital Hospital."

The sale of the corporate campus is part of the strategic repositioning of HealthSouth, first announced in August 2006, as a post-acute healthcare provider, focusing on inpatient rehabilitative and other complementary services. Proceeds from this transaction will be used to pay down a portion of the company's long-term debt.

"We are very pleased to finalize this transaction with Daniel Corporation," said HealthSouth President and CEO Jay Grinney. "This is another step in our plan to reposition HealthSouth as the preeminent provider of inpatient rehabilitative services in the U.S. The sale of this property will help us reduce corporate operating expenses, while the proceeds from the sale will be used to pay down additional debt."

Additional details of the agreement were not disclosed.

About HealthSouth

HealthSouth is the nation's largest provider of inpatient rehabilitation services. Operating in 26 states across the country and in Puerto Rico, HealthSouth serves more than 250,000 patients annually through its network of inpatient rehabilitation hospitals, long-term acute care hospitals, outpatient rehabilitation satellites, and home health agencies. HealthSouth strives to be the health care company of choice for its patients, employees, physicians and shareholders and can be found on the Web at http://www.healthsouth.com .

Media Contact:

HealthSouth: Andy Brimmer, 205-410-2777


'/>"/>
SOURCE HealthSouth Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. HealthSouth to Present at the Lehman Brothers Eleventh Annual Global Healthcare Conference and the 2008 Credit Suisse Global Leveraged Finance Conference
2. HealthSouth Reports Results for Fourth Quarter Ended December 31, 2007
3. HealthSouth Declares Dividend on 6.5% Series A Convertible Perpetual Preferred Stock
4. HealthSouth Issues Statement on Medicare Bill and 75% Rule
5. HealthSouth Announces Final Agreement on Previously Disclosed Settlement with Federal Government
6. HealthSouth and Physicians Pay $14.9 Million to Settle Health Care Fraud Claims
7. HealthSouth Announces Date of Third Quarter Earnings Conference Call
8. HealthSouth Corporation Appoints New Member to Board of Directors
9. HealthSouth Declares Dividend on 6.5% Series A Convertible Perpetual Preferred Stock
10. Bristol-Myers Squibb Finalizes Settlement of Previously Disclosed Federal Investigation into Pricing, Sales and Marketing Practices
11. Independence Blue Cross Finalizes New Multi-Year Agreements with Mercy Health System and St. Mary Medical Center
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/23/2017)... ... January 23, 2017 , ... DMG Productions is proud ... Begley, Jr., scheduled to broadcast Saturday, January 28, 2017 at 5:00pmEST. , This ... 2008 to address the limitations of fatigue monitoring technologies within the mining industry. ...
(Date:1/23/2017)... Washington, Dc (PRWEB) , ... January 23, 2017 ... ... at American University is taught by healthcare management and evaluation leaders with decades ... from fee-for-service to pay-for-value in the United States healthcare system, there is a ...
(Date:1/23/2017)... ... January 23, 2017 , ... ... (IHCA/INCAL), will serve as a healthcare industry expert at the 2017 Sector Summit ... moderated by Inside Indiana Business host Gerry Dick, will feature an employer and ...
(Date:1/23/2017)... ... January 23, 2017 , ... ... has earned organic certification under the USDA National Organic Program (NOP) for its ... process, we have established organic production and handling systems to complement our current ...
(Date:1/23/2017)... ... January 23, 2017 , ... ... the American Society of Anesthesiologists® (ASA®), the Foundation for Anesthesia Education and ... Orthopaedic Surgeons (AAOS) and the Cigna Foundation, encourages proposals supporting high quality ...
Breaking Medicine News(10 mins):
(Date:1/23/2017)...  Using Astute Medical,s NephroCheck Test ... kidney injury (AKI) after open-heart surgery and providing ... significantly improved outcomes by reducing the occurrence ... percent, according to a study published ... Medicine. Experience the interactive Multimedia ...
(Date:1/23/2017)... York , January 23, 2017 A ... Prenatal Testing Market was valued at US$0.53 bn in 2013 ... at a strong 17.50% CAGR between 2014 and 2022. The title ... Industry Analysis, Size, Volume, Share, Growth, Trends and Forecast 2014 - ... Non-invasive prenatal ...
(Date:1/23/2017)... , 23. Januar 2017  ResMed (NYSE: ... und 3B Medical ( Winter Haven, Florida ... Vereinbarung über die Beilegung aller globalen Rechtsstreitigkeiten zwischen den ... Verkauf ihrer bestehenden Produkte im Tausch gegen Lizenzgebühren ... an 3B leisten, um das in Florida ...
Breaking Medicine Technology: