Carlyle Group to buy long-term, acute-care chain

Carlyle Group, Washington, a private equity firm, said it reached a definitive agreement to buy LifeCare Holdings, Plano, Texas, which operates 21 long-term, acute-care hospitals. The deal, valued at $555 million by Moody's Investors Service, is expected to close in August. LifeCare had revenue of $335 million for the 12 months ended March 31. The company is currently owned by private equity firm GTCR Golder Rauner. -- by Joseph Mantone