Ban­ner inks $120M deal on ther­apy cen­ters

Agree­ment af­fects hun­dreds of work­ers at 42 places

The Arizona Republic - - Business - Ken All­tucker Ari­zona Repub­lic USA TO­DAY NET­WORK

units lo­cated in­side four Ban­ner Health hos­pi­tals: Ban­ner Univer­sity-Phoenix, Ban­ner Boswell, Ban­ner Del E. Webb and Ban­ner Bay­wood.

Those in-hos­pi­tal units will be re­placed over the next two years by three new re­ha­bil­i­ta­tion hos­pi­tals that will be built near Ban­ner Univer­sity in cen­tral Phoenix, Ban­ner Boswell in Sun City and Ban­ner Gate­way in Gil­bert.

Ban­ner pur­sued the deal with Se­lect Med­i­cal as part of its ef­fort to ex­pand med­i­cal ser­vices out­side tra­di­tional hos­pi­tal set­tings, said Lynn Rosen­bach, Ban­ner’s vice pres­i­dent of post-acute ser­vices.

Pa­tients will no­tice the newly named out­pa­tient re­ha­bil­i­ta­tion cen­ters later this year, Rosen­bach said.

The joint ven­ture will re­cruit new board-cer­ti­fied doc­tors and other med­i­cal providers to fill cur­rent open­ings and keep pace with an­tic­i­pated growth, Rosen­bach said.

In 2016, Ban­ner ac­quired the Ur­gent Care Ex­tra chain and opened dozens of new lo­ca­tions un­der the Ban­ner Ur­gent Care name.

Se­lect Med­i­cal is a pub­licly traded com­pany that has reached sim­i­lar joint ven­tures with health-care providers such as the Cleve­land Clinic and SSM Health of St. Louis, Mis­souri. who will work for the joint ven­ture, Ban­ner Health of­fi­cials said. A Se­lect Med­i­cal spokes­woman said talks are on­go­ing with qual­i­fied em­ploy­ees who will join the new en­tity, but the com­pany rep­re­sen­ta­tive de­clined to say how many po­si­tions would be filled.

The col­lab­o­ra­tion will com­bine 26 Se­lect phys­i­cal-ther­apy cen­ters and 12 Ban­ner Health phys­i­cal-ther­apy cen­ters. The out­pa­tient cen­ters will be re­named Ban­ner Phys­i­cal Ther­apy and Re­ha­bil­i­ta­tion in part­ner­ship with Se­lect Med­i­cal, of­fi­cials said.

The deal also will in­clude phys­i­cal-ther­apy

Ari­zona’s largest health-care provider has struck a deal with a Penn­syl­va­nia com­pany to com­bine op­er­a­tions of 38 phys­i­cal-ther­apy clin­ics and four hos­pi­tals in Ari­zona.

Ban­ner Health will be the ma­jor­ity owner of a joint ven­ture that will be man­aged by Se­lect Med­i­cal Hold­ings Corp. of Me­chan­ics­burg, Penn­syl­va­nia.

The $120 mil­lion deal will af­fect 500 Ban­ner Health phys­i­cal-ther­apy em­ploy­ees

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