BIRMINGHAM, Ala., Aug. 8, 2011 /PRNewswire/ -- HealthSouth Corporation (NYSE: HLS) will host a conference call at 4:30 p.m. Eastern Time on Tuesday, August 9, 2011, to discuss management's assessment of the potential impact of the Budget Control Act on the Company's business. President Obama signed into law the Budget Control Act on Tuesday, August 2, 2011. This law calls for a Special Committee of Congress to identify deficit reduction strategies, including savings from the Medicare program, by
November 23, 2011.
"The purpose of this conference call is to provide our assessment of the potential impact of the Budget Control Act on HealthSouth's business," said Jay Grinney, HealthSouth President and Chief Executive Officer. "We believe the dramatic sell-off of HealthSouth's stock following the signing of this bill has been significantly out of proportion to the bill's potential effect on the Company's future financial performance. The strength of our business model, our delevered balance sheet, and our track record during eighteen months of reduced Medicare payments in 2008 and 2009 point to our Company's ability to successfully manage the challenges, which may result from these deficit reduction
HealthSouth management participating in the call will include: Jay Grinney, President and Chief Executive Officer; Doug Coltharp, Executive Vice President and Chief Financial Officer; and, Mark Tarr, Executive Vice President and Chief Operating Officer. The conference call may be accessed by dialing (877) 587-6761 and giving the pass code 90058977. International callers should dial (706) 679-1635 and give the same pass code. Please call approximately 10 minutes before the start of the call to ensure you are connected. The conference call will also be webcast live and will be available along with any supplemental information at
http://investor.healthsouth.com/ by clicking on an available link.
HealthSouth is the nation's largest owner and operator of inpatient rehabilitation hospitals in terms of revenues, number of hospitals, and patients treated and discharged. Operating in 26 states across the country and in Puerto Rico, HealthSouth serves patients through its network of inpatient rehabilitation hospitals, outpatient rehabilitation satellite clinics, and home health agencies. HealthSouth's hospitals provide a higher level of rehabilitative care to patients who are recovering from conditions such as stroke and other neurological disorders, orthopedic, cardiac and pulmonary conditions, brain and spinal cord injury, and amputations. HealthSouth can be found on the Web at www.healthsouth.com.
Statements contained in this press release which are not historical facts are forward-looking statements. In addition, HealthSouth, through its senior management, 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, involve a number of risks and uncertainties, and relate to, among other things, future events, HealthSouth's business strategy, its
financial plans, its future financial performance, or its projected business results, or its projected capital expenditures. Actual events or results 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 events or results to differ materially from those estimated by HealthSouth include, but are not limited to, any adverse outcome of various lawsuits, claims, and legal or regulatory proceedings involving the Company; significant changes in HealthSouth's management team; HealthSouth's ability to successfully complete and integrate acquisitions, investments, and joint ventures consistent with its growth
strategy; changes, delays in (including in connection with resolution of Medicare payment reviews or appeals), or suspension of reimbursement for HealthSouth's services by governmental or private payors; 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 response thereto; HealthSouth's ability to obtain and retain favorable arrangements with third-party payors; HealthSouth's 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 HealthSouth's labor expenses from potential union activity and staffing shortages; general conditions in the economy and capital markets; the increase in the costs of defending and insuring against alleged professional liability claims and our ability to predict the estimated costs related to such claims; and other factors which may be identified from time to time in HealthSouth's SEC filings and other public announcements, including HealthSouth's Form 10K for the year ended December 31, 2010 and its Form 10-Q for the quarters ended June 30, 2011 and March 31, 2011.
Helen Todd, 205-969-5608
Investor Relations Contact:
Mary Ann Arico, 205-969-6175
SOURCE HealthSouth Corporation