Encompass Health Corp. and Piedmont Healthcare today announced they have executed a joint venture agreement to operate inpatient rehabilitation hospitals in Georgia. The parties are currently partnered on Regional Rehabilitation Hospital, in Phenix City, Alabama. Recently, the partnership was granted certificates of need to own and operate new inpatient rehabilitation hospitals in Atlanta and Columbus, Georgia. Anticipated to be effective June 2021, Piedmont Healthcare will also assume partial ownership of Encompass Health Rehabilitation Hospital of Newnan in Georgia, a 60-bed inpatient rehabilitation hospital opened by Encompass Health in December 2014.
CMS wants to boost Medicare payments for inpatient rehabilitation facilities by 2.2% and inpatient psychiatric facilities by 2.3% next year, the agency said Wednesday. According to CMS, the changes would increase federal spending on inpatient rehab by $160 million compared to 2021. Likewise, federal spending on inpatient psychiatric facilities would go up by about $90 million. Regulators plan to require inpatient rehabilitation and psychiatric facilities to report COVID-19 vaccine coverage among their healthcare personnel.
Kindred Healthcare, LLC (“Kindred”) and OSF HealthCare announced Tuesday a partnership agreement to provide rehabilitation and long-term acute care (“LTAC”) hospital services in central Illinois. Pursuant to the agreement, Kindred and OSF will work together to transform Kindred’s wholly owned hospital in Peoria, Illinois. Peoria. OSF will hold majority ownership of the hospital, which will be renamed and branded to demonstrate being part of OSF HealthCare. The hospital will then be operated as a Catholic health care facility.
Kindred Healthcare, LLC (“Kindred”) and Texas Health Resources announced Monday they have acquired Everest Rehabilitation Hospital of Keller. The hospital, now renamed Texas Rehabilitation Hospital of Keller, will be operated through an existing joint venture between Kindred and Texas Health Resources. Texas Rehabilitation Hospital of Keller, which opened in December 2020, is a 36-bed rehabilitation hospital located in the northern suburbs of Fort Worth at 791 S. Main St., Keller, Texas. Kindred and Texas Health Resources also operate Texas Rehabilitation Hospital of Fort Worth, which opened in April 2011. It is a 66-bed hospital located in the medical district of Fort Worth.
Kindred Healthcare, LLC and Mercy Hospital Oklahoma City announced Monday they have acquired Everest Rehabilitation Hospital of Oklahoma City. Kindred and Mercy will operate the hospital, now renamed Mercy Rehabilitation Hospital Oklahoma City South, through their existing joint venture. Mercy Rehabilitation Hospital Oklahoma City South is a 36-bed rehabilitation hospital located in the southern part of Oklahoma City at 7900 Mid America Blvd. Kindred and Mercy also operate Mercy Rehabilitation Hospital Oklahoma City, which opened in October 2012 and is located in the northern part of the city.
With more than 1,700 locations in 46 states, Kindred Healthcare has a unique perspective on caring for patients during the COVID-19 pandemic. Its network spans long-term care, rehabilitation and behavioral health. And despite the financial pinch the pandemic has put on the industry, Kindred President and CEO Ben Breier says the organization is well-positioned to stick with an ambitious growth strategy. He recently talked with Modern Healthcare Managing Editor Matthew Weinstock. The following is an edited transcript.
Select Medical Corporation, a wholly-owned subsidiary of Select Medical Holdings Corporation (NYSE: SEM), announced Thursday a joint venture agreement with Rush University System for Health (RUSH) to manage operations of a critical illness recovery hospital, inpatient rehabilitation hospital and 63 physical therapy centers throughout the greater Chicago and Northwest Indiana region. Select Medical will serve as both the majority owner and managing partner across the three post-acute care lines. Under the agreement, the combined outpatient rehabilitation centers contributed to the joint venture include 62 NovaCare Rehabilitation, Select Physical Therapy and Michiana Orthopaedic & Sports Physical Therapy locations from Select Medical, as well as the Rush Rehabilitation center. All 63 outpatient centers will be rebranded as RUSH Physical Therapy.
Post Acute Medical, LLC (PAM) announced today that it plans to construct a state-of-the-art, 42-bed inpatient rehabilitation hospital in Wausau, Wisconsin, that will serve the greater Wausau region. The 50,000-square-foot, two-story hospital represents a more than $25 million capital investment in Wausau and the surrounding communities. Building the hospital will create approximately 160 construction jobs. When fully operational, it will support more than 125 permanent jobs.
Post Acute Medical, LLC (PAM) announced today that it will acquire Cobalt Rehabilitation Fargo, 4671 38th Street South, Fargo, North Dakota, from Curahealth Hospitals and Cobalt Rehabilitation and expects to complete the acquisition on October 1. PAM will rename the 42-private-bed hospital PAM Rehabilitation Hospital of Fargo. It will be PAM’s first inpatient rehabilitation hospital in North Dakota. PAM, based in Enola, Pennsylvania, provides post-acute health care services through more than 40 long-term acute care hospitals and medical rehabilitation hospitals, as well as 18 outpatient physical therapy locations, in 12 states.
Post Acute Medical, LLC (PAM) announced today that it has placed land under contract and plans to construct a state-of-the-art, 42-bed inpatient rehabilitation hospital west of Denver near the suburbs of Golden and Lakewood, Colorado. When it opens, the hospital will be PAM’s third hospital in Colorado, joining PAM Specialty Hospital of Denver and a newly announced hospital in the Ft. Collins and Greeley area.
What We Do
Who We Are
How We Work
Who We Help
Get In Touch
Connect With Us
Subscribe to Our Daily Note
We publish a Daily Note that aggregates M&A activity, notable developments, regulatory changes, and conferences we deem to be of interest to our partners. It is a quick afternoon read and an easy way to keep your finger on the pulse of the healthcare space. Please fill in your name and email address below if you wish to subscribe.