HealthSouth To Purchase The Rehabilitation Hospital Of South Jersey

Birmingham, AL - HealthSouth Corporation announced recently it has entered into a definitive agreement, through one of its wholly owned subsidiaries, to purchase The Rehabilitation Hospital of South Jersey, a 34-bed inpatient rehabilitation hospital in Vineland, NJ, from The Mediplex/Cumberland Rehabilitation Limited Partnership.

"We are very pleased to welcome The Rehabilitation Hospital of South Jersey to HealthSouth's nation-wide network of preeminent rehabilitation hospitals," said Jay Grinney, HealthSouth's president and chief executive officer. "The Rehabilitation Hospital of South Jersey, under the outstanding leadership of Dr. Francis Bonner, has provided exceptional care to patients in the South Jersey area for many years and we look forward to continuing this tradition for many years to come."

The acquisition of The Rehabilitation Hospital of South Jersey adds a third New Jersey rehabilitation hospital to HealthSouth's northeast region. HealthSouth currently operates HealthSouth Rehabilitation Hospital of New Jersey in Toms River and Tinton Falls Rehabilitation Hospital, a Joint Venture of HealthSouth and Monmouth Medical Center, in Tinton Falls.

The closing of the transaction is subject to certain state and federal regulatory approvals and is expected to take place late in the second quarter or early in the third quarter of 2008.

SOURCE: HealthSouth Corporation