HealthSouth Buys Reliant Hospital

(RTTNews) - HealthSouth Corp (HLS), a provider of post-acute services, on Thursday said it has completed it acquisition of Reliant Hospital Partners LLC and affiliated entities for about $730 million.

The acquisition expands HealthSouth's existing national network of inpatient rehabilitation hospitals with a portfolio of 11 additional inpatient rehabilitation hospitals and a total of 902 beds in Texas, Massachusetts and Ohio. In 2014, Reliant's operations generated revenues of about $249 million.

In connection with the transaction, HealthSouth expects to realize a tax benefit with an estimated net present value of approximately $150 million.