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HealthSouth Announces Increase In Authorization To Repurchase Common Stock Up To $350 Million



HealthSouth Announces Increase In Authorization To Repurchase Common Stock Up
                               To $350 Million

PR Newswire

BIRMINGHAM, Ala., Feb. 18, 2013

BIRMINGHAM, Ala., Feb. 18, 2013 /PRNewswire/ -- HealthSouth Corporation (NYSE:
HLS) today announced its board of directors approved an increase in the
Company's existing common stock repurchase authorization from $125 million to
$350 million. The Company intends to pursue a tender offer for its common
stock for up to the full amount of this authorization, the timing and
parameters of which will be dictated by market conditions. Any such tender
offer would be funded with a combination of cash on hand and availability
under the Company's $600 million revolving credit facility. Even if successful
at the full amount authorized, any such tender offer would result in a modest
impact on the Company's leverage ratio, with the resulting ratio remaining
within the Company's target range. The Company believes the contemplated
tender offer is consistent with its strategy of deploying financial resources
towards long-term, shareholder value-creating opportunities.

About HealthSouth
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 27 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 the conduct and consummation of a tender offer, are forward-looking
statements. In addition, HealthSouth, through its senior management, may from
time to time make forward-looking public statements concerning guidance and
the other 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, or
otherwise. Such forward-looking statements are necessarily estimates based
upon current information, involve a number of risks and uncertainties, and
relate to, among other things, future events, HealthSouth's plans to
repurchase its debt or equity securities, including by means of a tender
offer, effective income tax rates, HealthSouth's business strategy, its
financial plans, its future financial performance, or its projected business
results or model, or its projected capital expenditures or its leverage ratio.
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, HealthSouth's ability to consummate a tender
offer as planned, including its timing, the source of funds used, the number
of shares tendered and the final price being paid; any adverse outcome of
various lawsuits, claims, and legal or regulatory proceedings involving
HealthSouth, including the Houston HHS-OIG investigation; 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; HealthSouth's ability to
successfully complete and integrate de novo developments, acquisitions,
investments, and joint ventures consistent with its growth strategy; 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
economy and capital markets; the increase in the costs of defending and
insuring against alleged professional liability claims and its ability to
predict the estimated costs related to such claims; and other factors which
may be identified from time to time in HealthSouth's SEC filings and other
public announcements, including HealthSouth's Annual Report on Form 10-K for
the year ended December 31, 2012, when filed, as well as its subsequent
filings with the SEC.

Media Contact
Casey Lassiter, 205-410-2777

Investor Relations Contact
Mary Ann Arico, 205-969-6175
Maryann.arico@healthsouth.com

SOURCE HealthSouth Corporation

Website: http://www.healthsouth.com
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