RehabCare Group, St. Louis, said it reached a definitive agreement for its largest acquisition ever, a $35 million purchase of Meadowbrook Healthcare, Birmingham, Ala. The deal is expected to close July 31. Meadowbrook, which operates two acute rehabilitation hospitals and two long-term acute-care hospitals, had revenue of $53 million in 2004. RehabCare, which provides rehabilitation services at roughly 900 hospitals and skilled-nursing facilities, said it already operates in Louisiana, Miami and Tulsa, Okla., where the Meadowbrook facilities are located, but expects the acquisition to expand its post-acute business. -- by Joseph Mantone
RehabCare to acquire post-acute firm for $35 million
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