Vibra Healthcare Announces the Acquisition of Fort Wayne and Crown Point Hospitals

National leader in specialty hospitals purchases Progressive Specialty Hospitals

Oct 26, 2010, 16:58 ET from Vibra Healthcare

MECHANICSBURG, Pa., Oct. 26 /PRNewswire/ -- Vibra Healthcare, a leading operator of specialty hospitals announced today that it has executed a definitive agreement for the purchase of Progressive Healthcare's Long Term Acute Care Hospitals located in Fort Wayne and Crown Point, Indiana. The Fort Wayne hospital will be known as Vibra Hospital of Fort Wayne and the Crown Point hospital will be known as Vibra Hospital of Northwestern Indiana.

Long Term Acute Care Hospitals (LTACHs) provide specialized acute and rehabilitative care to medically complex patients. LTACH patients are critically ill and/or have multi-system failures that require extended acute care treatment after discharge from a traditional acute care hospital, typically from the intensive care unit.

"We are pleased to add the Progressive Hospitals to the Vibra Healthcare network and the Fort Wayne and Crown Point hospitals further our strategic objectives by providing Vibra an opportunity to gain market share in key states like Indiana. We look forward to developing market specific services to meet the unique needs of each healthcare community Progressive serves," stated Brad Hollinger, Founder, Chairman and CEO of Vibra Healthcare.

Vibra Healthcare, LLC is a specialty hospital provider based in Mechanicsburg, Pennsylvania focused on the development, acquisition and operation of freestanding long-term acute care and medical rehabilitation hospitals. With the addition of the 2 hospitals and satellite, Vibra will operate 33 hospitals and outpatient locations with over 1400 beds in nine states.

SOURCE Vibra Healthcare