HealthSouth Corp., Birmingham, Ala., reported a net loss of $405.8 million, or $1.03 per share, in the fourth quarter ended Dec. 31, compared with net income of $67.9 million, or 17 cents per share, in the year-ago period. The company booked restructuring and other charges totaling $305.1 million, including $175.7 million related to closure, divestment or consolidation of about 220 facilities, primarily outpatient rehabilitation centers. In early January, Chairman and CEO Richard Scrushy said HealthSouth would shutter underperforming hospitals, improve marketing and cut expenses. Revenue for the quarter was $923.5 million, down from $1.1 billion in the year-ago quarter. -- by Associated Press
HealthSouth posts $406 million 4th-quarter loss
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