BIRMINGHAM, Ala. and GULFPORT, Miss., Jan. 10, 2017 /PRNewswire/ -- HealthSouth Corporation (NYSE: HLS) and Memorial Hospital at Gulfport today announced they have entered into a joint venture to own and operate an existing 33-bed physical rehabilitation unit at Memorial Hospital at Gulfport.
The inpatient rehabilitation hospital will remain in its current location at 4500 13th St. in Gulfport, Mississippi. There will be no interruption to care provided to patients. The hospital will continue to serve patients who have experienced stroke, trauma, brain and orthopedic injuries and other major illnesses or injuries.
"Memorial Hospital at Gulfport has a long history of providing excellent care. This joint venture combines the strengths of a high quality local provider with the operating platforms and clinical resources of our national network of more than 120 rehabilitation hospitals to further advance the already strong rehabilitative care Memorial provides," said Linda Wilder, president of HealthSouth's southeast region. "We look forward to working together with Memorial Hospital at Gulfport to provide inpatient rehabilitative treatment with state-of-the-art technology and clinical programs through HealthSouth's first location in Mississippi."
"Given the Medicare programs increasing emphasis on the standardization of rehabilitation services, we determined that a national partner will be in the best position to monitor ongoing regulatory actions, promote referral relationships throughout the region and attain the growth necessary for rehabilitation services to be viable over the long-term," said Gary G. Marchand, Memorial president and CEO.
Memorial will continue to have an ownership interest in the new operation and services will be provided as HealthSouth Rehabilitation Hospital of Gulfport.
The joint venture's operation of the inpatient rehabilitation hospital is expected to begin Q2 2017, and is subject to customary closing conditions, including regulatory approvals.
About Memorial Hospital at Gulfport / www.gulfportmemorial.com
Memorial is a not-for-profit medical complex in Gulfport, Mississippi, jointly owned by the City of Gulfport and Harrison County. Memorial is one of the most comprehensive healthcare systems in the state, licensed for 445-beds, including an outpatient surgery center, satellite outpatient diagnostic and rehabilitation centers and more than 90 Memorial Physician Clinics. Memorial offers several of the region's most comprehensive clinical programs, such as emergency medicine; women and children services; orthopedic services; cardiovascular services; neurosciences and oncology. Additionally, Memorial provides medical specialties unique to the coast: Neonatal ICU, state-designated Level II Trauma Center, and Mississippi's first nationally certified Primary Stroke Center. Memorial offers three –dimensional imaging, electronic medical records, advanced surgical techniques, including CyberKnife® and the da Vinci® Xi™ Robotic Assisted Specialty Surgery System. Memorial is accredited by The Joint Commission and is a member of Vizient and the American Hospital Association.
HealthSouth is one of the nation's largest providers of post-acute healthcare services, offering both facility-based and home-based post-acute services in 35 states and Puerto Rico through its network of inpatient rehabilitation hospitals, home health agencies, and hospice agencies. HealthSouth can be found on the web at www.healthsouth.com.
Statements contained in this press release which are not historical facts, such as those relating to the likelihood, timing and effects of the finalization of this joint venture project, are forward-looking statements. In addition, HealthSouth may from time to time make forward-looking public statements concerning the matters described herein. All such estimates, projections, and forward-looking information speak only as of the date hereof, and HealthSouth undertakes no duty to publicly update or revise such forward-looking information, whether as a result of new information, future events, or otherwise. Such forward-looking statements are necessarily estimates based upon current information and involve a number of risks and uncertainties. HealthSouth's actual results or events may differ materially from those anticipated in these forward-looking statements as a result of a variety of factors. While it is impossible to identify all such factors, factors which could cause actual results or events to differ materially from those anticipated include, but are not limited to, the regulatory review and approval process; any adverse outcome of various lawsuits, claims, and legal or regulatory proceedings that may be brought by or against HealthSouth or this joint venture; the possibility this project will experience unexpected delays; the ability to successfully complete and integrate this project consistent with HealthSouth's growth strategy, including realization of anticipated revenues, cost savings, and productivity improvements arising from the related operations and avoidance of unforeseen exposure to liabilities; changes in the regulation of the healthcare industry at either or both of the federal and state levels; competitive pressures in the healthcare industry and HealthSouth's or this joint venture's response thereto; this joint venture's ability to maintain proper local, state and federal licensing; potential disruptions, breaches, or other incidents affecting the proper operation, availability, or security of the hospitals' or either partner's information systems; the ability to attract and retain nurses, therapists, and other healthcare professionals in a highly competitive environment with often severe staffing shortages and the impact on labor expenses from potential union activity and staffing shortages; changes, delays in (including in connection with resolution of Medicare payment reviews or appeals), or suspension of reimbursement for services by governmental or private payors; general conditions in the economy and capital markets; and other factors which may be identified from time to time in HealthSouth's SEC filings and other public announcements, including HealthSouth's Form 10-K for the year ended December 31, 2015 and Form 10-Q for the quarters ended March 31, 2016, June 30, 2016 and September 30, 2016.
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SOURCE HealthSouth Corporation