Select Medical Holdings Corp. to Acquire Regency Hospital Co.
Select Medical Holdings Corp. announced today that it will acquire Alpharetta, GA-based Regency Hospital Co. LLC, the operators of 23 long-term acute care hospitals in nine states, in a deal valued at $210 million.
Mechanicsburg, PA-based Select Medical now operates 89 long-term acute care hospitals and six acute medical rehabilitation hospitals in 25 states, and 959 outpatient rehabilitation clinics in 36 states and the District of Columbia. When the acquisition is finalized this summer, Select Medical's operations will include 112 long-term acute care hospitals in 28 states.
Regency's net revenue in 2009 was $374.9 million, with net income of $6.1 million, Select Medical said in a media release.