HealthSouth to Purchase Inpatient Rehabilitation Services in Cincinnati, Ohio (HLS)

HealthSouth Corporation HLS today announced it has entered into a definitive agreement to purchase substantially all assets of Drake Center's inpatient rehabilitation services and sublease space for the operation of a 38-bed inpatient rehabilitation hospital. It will be fully owned and operated by HealthSouth. "We are honored to have the opportunity to align with Drake and to serve the Cincinnati community," said Jay Grinney, HealthSouth president and chief executive officer. "This new hospital -- our first in the State of Ohio -- is another milestone in our strategy of expanding HealthSouth's rehabilitative outreach to new markets."