HealthSouth Corp., a Birm­ing­ham, Ala.-based op­er­a­tor of in­pa­tient re­ha­bil­i­ta­tion hos­pi­tals, plans to spend $730 mil­lion to buy Richard­son, Texas-based Re­liant Hos­pi­tal Part­ners.

Modern Healthcare - - LATE NEWS -

A smaller peer, Re­liant op­er­ates 11 in­pa­tient re­ha­bil­i­ta­tion hos­pi­tals in three states: Mas­sachusetts, Ohio and Texas. HealthSouth will as­sume the leases on the 11 fa­cil­i­ties. Re­liant in 2014 gen­er­ated $249 mil­lion in rev­enue and $82 mil­lion in ad­justed earn­ings be­fore taxes and other items. HealthSouth will spend cash and debt to fund the deal, which is ex­pected to close later this year.

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