LifeCare Holdings, Plano, Texas, said it has entered into an agreement with Health Care REIT, Toledo, Ohio, that will provide LifeCare with up to $250 million over 15 years to expand its long-term acute-care hospital operations. Under the agreement, the real estate investment trust will buy designated properties and provide financing to build hospitals that will be leased to LifeCare. Their first joint project is a 60-bed long-term acute-care hospital in Meridian, Idaho, scheduled for completion in early 2008. LifeCare operates 19 long-term acute-care hospitals in nine states. -- by Jessica Zigmond
LifeCare to get $250 million to grow
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