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HealthSouth And Memorial Health Announce Joint Venture To Operate Rehabilitation Hospital In Savannah, Georgia

      HealthSouth And Memorial Health Announce Joint Venture To Operate
                 Rehabilitation Hospital In Savannah, Georgia

PR Newswire

BIRMINGHAM, Ala. and SAVANNAH, Ga., June 19, 2014

BIRMINGHAM, Ala. and SAVANNAH, Ga., June 19, 2014 /PRNewswire/ -- HealthSouth
Corporation (NYSE: HLS) and Memorial Health have signed an agreement to form a
joint venture to own and operate a 50-bed inpatient physical rehabilitation
hospital to be known as the Rehabilitation Hospital of Savannah. Initially,
the Rehabilitation Hospital of Savannah will operate in the current location
of Memorial Health's 50-bed Rehabilitation Institute on Memorial University
Medical Center's campus at 4700 Waters Avenue in Savannah, Georgia and
continue to serve patients with needs for intense physical rehabilitation. 

The joint venture plans to begin building a new, 50-bed replacement inpatient
rehabilitation hospital, which is expected to be completed in early 2016 and
will provide comprehensive, state-of-the-art inpatient physical rehabilitation
to patients who have experienced stroke, trauma, brain injury, complex
orthopedic conditions as well as other major illnesses or injuries.

"Memorial Health has a long history of providing excellent clinical care. This
joint venture will uniquely position the hospital to continue to provide a
high-quality physical rehabilitation program in a new, state-of-the-art
facility," said Linda Wilder, president of HealthSouth's southeast region. "We
look forward to working together with Memorial Health to provide inpatient
rehabilitative treatment and technology to the residents of Savannah and the
surrounding areas."

"We are excited about this partnership and the value it brings to our
community," said Maggie Gill, president and CEO of Memorial Health. "Our
collaboration with HealthSouth allows us to continue as a premier provider of
inpatient rehabilitation services while enjoying the benefits of partnering
with the nation's largest rehabilitation hospital company."

The Savannah Economic Development Authority (SEDA) provided valuable support
and assistance in developing this project.

"As one of the country's leaders in post-acute care rehabilitation services,
HealthSouth will bring valuable expertise, investment and jobs to
Savannah/Chatham County," said SEDA President and CEO Trip Tollison. "We look
forward to a long and prosperous relationship with HealthSouth."

The establishment and relocation of the Rehabilitation Hospital of Savannah
are subject to further regulatory review and approval by the Georgia
Department of Community Health. In addition, the formation and commencement
of operations of the joint venture are subject to customary closing
conditions.The parties hope the joint venture will begin operating the
inpatient rehabilitation hospital at Memorial University Medical Center in
early 2015.

About Memorial Health 
Memorial Health is a two-state healthcare organization serving a 35-county
area in southeast Georgia and southern South Carolina. The system includes its
flagship hospital, a 654-bed academic medical center; Memorial primary and
specialty physician networks; a major medical education program; business and
industry services; and NurseOne, a 24-hour call center. To learn more, visit
www.memorialhealth.com.You can follow us at facebook.com/memorialhealth,
twitter.com/mymemorial, youtube.com/memorialhealth, and google
plus/+memorialhealth.

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 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, cardiac and pulmonary conditions,
brain and spinal cord injuries, complex orthopedic conditions, and
amputations. HealthSouth can be found on the Web at www.healthsouth.com.

Forward-Looking Statements

Statements contained in this press release which are not historical facts,
such as those relating to the likelihood, timing and effects of the
finalization of this joint venture project, are forward-looking statements. In
addition, HealthSouth 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, or otherwise. Such forward-looking statements are necessarily
estimates based upon current information and involve a number of risks and
uncertainties. HealthSouth's actual results or events 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 results or events to differ materially from
those anticipated include, but are not limited to, the regulatory review and
approval process, any adverse outcome of various lawsuits, claims, and legal
or regulatory proceedings that may be brought by or against the Company; the
possibility that this project will experience unexpected delays; the ability
to successfully complete and integrate this project consistent with
HealthSouth growth strategy, including realization of anticipated revenues,
cost savings, and productivity improvements arising from the related
operations and avoidance of unforeseen exposure to liabilities; changes in the
regulation of the healthcare industry at either or both of the federal and
state levels; competitive pressures in the healthcare industry and
HealthSouth's response thereto; 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; 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; 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; general conditions
in the 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, 2013 and
Form 10-Q for the quarter ended March 31, 2014.

HEALTHSOUTH CONTACTS:
Media: Casey Lassiter, 205-410-2777,
Investor Relations: Mary Ann Arico, 205-969-6175

MEMORIAL HEALTH CONTACT:
Media: Michael Notrica 912-350-6858

SOURCE HealthSouth Corporation

Website: http://www.healthsouth.com
 
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