BIRMINGHAM, Ala., May 23, 2013 /PRNewswire/ -- HealthSouth Corporation (NYSE: HLS) announced today that it plans to build a 50-bed comprehensive inpatient rehabilitation hospital in Newnan, Ga.
"We look forward to bringing this new hospital and the much needed comprehensive, inpatient rehabilitation services to the residents of Coweta, Fayette and south Fulton counties," said Linda Wilder, president of the southeast region for HealthSouth. "We also are grateful for the tremendous, positive support we received from the community, its leaders and local healthcare providers, including Piedmont Health System."
"HealthSouth's commitment to locating a comprehensive inpatient physical rehabilitation hospital in our community reinforces the City of Newnan's desire to provide excellent healthcare services to local and regional residents," said Keith Brady, mayor of the city of Newnan. "This project enhances the City of Newnan's promise of creating an economically sustainable environment that stimulates a modern and growing economy, producing wealth for residents and businesses, strengthening existing and future industry clusters and diversifying the City of Newnan's economic base."
Construction on the approximately 55,000-square foot hospital will begin in the fourth quarter of 2013. The proposed 50-bed hospital will provide patients with access to specialized rehabilitation programs and innovative equipment and technology, including electronic medical records and is expected to be operational in the fourth quarter of 2014. The development of HealthSouth Rehabilitation Hospital of Newnan represents a $22 million investment in the community and, once fully operational, is expected to generate more than 125 new, full-time jobs and approximately 300 construction jobs.
"This is a milestone event for the city of Newnan and Coweta County," said Terry Daviston, chairman of the Coweta County Development Authority. "The new hospital will foster economic development and create jobs, and we look forward to adding HealthSouth's specialized rehabilitative care to the strong network of other healthcare services offered in our area."
In December 2012, HealthSouth received a certificate of need from the Department of Community Health to build a 50-bed comprehensive inpatient rehabilitation hospital in Newnan, Ga. The certificate of need was later appealed and that appeal has since been resolved.
The addition of HealthSouth Rehabilitation Hospital of Newnan will be HealthSouth's second hospital in Georgia joining HealthSouth Walton Rehabilitation Hospital in Augusta, Ga.
HealthSouth is the nation's largest owner and operator of inpatient rehabilitation hospitals in terms of patients treated and discharged, revenues and number of hospitals. Operating in 28 states across the country and in Puerto Rico, HealthSouth serves patients through its network of inpatient rehabilitation hospitals, outpatient rehabilitation satellite clinics and home health agencies. HealthSouth's hospitals provide a higher level of rehabilitative care to patients who are recovering from conditions such as stroke and other neurological disorders, orthopedic, cardiac and pulmonary conditions, brain and spinal cord injuries, and amputations. HealthSouth can be found on the Web at www.healthsouth.com.
Statements contained in this press release which are not historical facts, such as those relating to the likelihood, timing and effects of the completion of this development, are forward-looking statements. In addition, HealthSouth, through its senior management, may from time to time make forward-looking public statements concerning the matters described herein. All such estimates, projections, and forward-looking information speak only as of the date hereof, and HealthSouth undertakes no duty to publicly update or revise such forward-looking information, whether as a result of new information, future events, the possibility that this project will experience unexpected delays; the risk of a significant adjustment to the cost of completion; HealthSouth's business strategy; its financial plans; its future financial performance; or its projected business results or model. Actual events or results may differ materially from those anticipated in these forward-looking statements as a result of a variety of factors. While it is impossible to identify all such factors, factors which could cause actual events or results to differ materially from those estimated by HealthSouth include, but are not limited to, any adverse outcome of various lawsuits, claims, and legal or regulatory proceedings involving HealthSouth, including the pending HHS-OIG investigations; the hospital's ability to maintain proper local, state and federal licensing; potential disruptions, breaches, or other incidents affecting the proper operation, availability, or security of HealthSouth's information systems; significant changes in HealthSouth's management team; changes, delays in (including in connection with resolution of Medicare payment reviews or appeals), or suspension of reimbursement for HealthSouth's services by governmental or private payors; changes in the regulation of the healthcare industry at either or both of the federal and state levels, including as part of national healthcare reform and deficit reduction; competitive pressures in the healthcare industry and HealthSouth's response thereto; HealthSouth's ability to obtain and retain favorable arrangements with third-party payors; HealthSouth's ability to attract and retain nurses, therapists, and other healthcare professionals in a highly competitive environment with often severe staffing shortages and the impact on HealthSouth's labor expenses from potential union activity and staffing shortages; general conditions in the local or national economy and capital markets; and other factors which may be identified from time to time in HealthSouth's SEC filings and other public announcements, including HealthSouth's Form 10‑K for the year ended December 31, 2012 and Form 10-Q for the quarter ended March 31, 2013.
Casey Lassiter, 205 410-2777
Investor Relations Contact
Mary Ann Arico, 205 969-6175
SOURCE HealthSouth Corporation