Select Medical Corp., which operates 90 long-term acute-care hospitals in 26 states, has paid $49 million to acquire Nexus Health Systems, a Houston-based organization operating five facilities that provide services in the residential and medical specialty fields. The facilities include Orange, Calif.-based HealthBridge Childrens Rehabilitation Hospital, a 24-bed pediatric facility licensed as an acute-care pediatric hospital to accommodate both acute-care pediatric needs and long-term sub-acute care.
Select Medical, Mechanicsburg, Pa., which also operates about 550 outpatient rehabilitation clinics across the country and provides rehabilitation services on a contract basis to nursing homes, hospitals, assisted living and senior-care centers, said the deal is expected to close in the second quarter of 2007. It is subject to a number of closing conditions, including regulatory approvals, officials said. -- by Michael Romano