Birmingham, Ala.-based HealthSouth Corp. has agreed to purchase Cardinal Hill Rehabilitation Hospital in Lexington, Ky.
The hospital is owned by the not-for-profit Kentucky Easter Seal Society, an affiliate of the National Easter Seals Society. Financial terms of the deal have not yet been disclosed, a HealthSouth spokeswoman said.
Cardinal Hill has 158 licensed inpatient-rehabilitation beds and 74 licensed skilled-nursing beds. It also provides outpatient rehab and home health services.
The hospital chose HealthSouth because of the system's ability to negotiate payer contracts, its use of integrated electronic health records and its financial viability, among other reasons, said Gary Payne, Cardinal Hill's CEO. Payne will remain chief executive after the acquisition, the HealthSouth spokeswoman said. The deal is expected to close in the first half of 2015.