MECHANICSBURG, Pa., July 7 /PRNewswire/ -- Vibra Healthcare LLC (formerly known as Highmark Healthcare, LLC), announced today that it has closed on the acquisition of the Northern California Rehabilitation Hospital located in Redding, CA. The 88-bed hospital currently operates acute medical rehabilitation beds along with skilled nursing beds as part of a transitional care unit (TCU). Vibra intends to convert most of these beds to long-term acute care hospital (LTACH) beds.
The transaction was financed by Medical Properties Trust, Inc. (MPT), a Birmingham, AL-based real estate investment trust that primarily invests in specialty and acute care hospitals.
The company also announced that it entered into an agreement on February 1, 2005, with St. Francis Health Care Centre of Green Springs, OH, to manage, with an option to acquire, its 36-bed LTACH.
Brad Hollinger, Founder, Chairman and CEO of Vibra Healthcare, stated that “The acquisition of the Redding hospital and the St. Francis management contract represent important steps in Vibra’s growth plan. The addition of the Northern California Rehabilitation Hospital is a strategic and geographic fit for Vibra. The conversion of TCU beds to LTACH beds will help meet the demand for critical care beds in the greater Redding market and enable the hospital to better serve the medical community. MPT once again has proven to be a strong financial partner, supportive of our growth plans. The Ohio transaction gives Vibra a presence in a new geographic region targeted for future growth.”
Vibra Healthcare LLC is a specialty healthcare provider based in Mechanicsburg, Pennsylvania, focused on the development, acquisition and operation of freestanding medical rehabilitation and long-term acute care hospitals. Vibra currently operates eight hospitals in six states.
Vibra Healthcare LLC
CONTACT: Robert Sutton, Vibra Healthcare, +1-717-591-5708
Web site: http://www.vibrahealthcare.com/
