HealthSouth Corporation (NYSE:HLS) was founded in 1984 and is headquartered in Birmingham, Alabama, with 16,533 full-time employees. It is an outpatient surgery and rehabilitation healthcare service company.
HealthSouth Corporation (HLS):
Southern Healthcare Company is the owner and operator of an inpatient rehabilitation hospital. The inpatient rehabilitation hospital of the company can provide medical and cognitive impairments or injuries caused by medical conditions, such as stroke, hip fracture, head injury, and spinal cord. Rehabilitation care services needed for injuries and various neurasthenic conditions.
As of December 31, 2015, HealthSouth Corporation operated 121 inpatient rehabilitation hospitals in 29 states and Puerto Rico, and also managed 3 inpatient rehabilitation hospitals through contracts.
History of HealthSouth Corporation (HLS):
- On February 22, 1984, Richard M. Scrushy founded Amcare, Inc., the predecessor of HealthSouth Corporation;
- In 1985, Amcare, Inc. changed its name to HealthSouth Rehabilitation Corporation;
- In 1986, HealthSouth’s IPO was listed on Nasdaq, the stock code at that time was: HSRC;
- In September 1988, Southern Healthcare was transferred from Nasdaq to the New York Stock Exchange, and the stock code was changed to: HRC;
- In 1993, it made the first large-scale acquisition, acquiring 28 hospitals and 45 outpatient rehabilitation facilities from National Medical Enterprise (now Tenet Healthcare Corporation ) with 300 million US dollars in cash ;
- In 1994, HealthSouth acquired ReLife for US$180 million;
- In 1995, the company changed its name to HealthSouth Corporation;
- In January 1995, Southern Healthcare Corporation entered the surgical center business market through the acquisition of Surgical Health Corporation for US$155 million;
- In February 1995, HealthSouth Corporation acquired the entire rehabilitation hospital business of Novacare for US$215 million;
- In 1996, Southern Healthcare entered the diagnostic field through the acquisition of Health Images Inc.;
- In 1997, HealthSouth Corporation acquired Horizon/CMS for US$1.8 billion and sold the latter’s long-term care assets;
- In 1999, Southern Healthcare acquired a majority stake in the Columbia/HCA surgical department;
- In 2001, HealthSouth Corporation announced its cooperation with Oracle to build the world’s first fully digital hospital on its corporate campus;
- On January 29, 2007, Southern Healthcare sold its 600 outpatient centers to Select Medical Corporation (NYSE:SEM) for US$245 million . The transaction was completed on May 1 of the same year;
- On March 26, 2007, Southern Healthcare announced the sale of its revenue center unit consisting of 139 outpatient surgery centers and 3 surgical hospitals to a private equity investment company-TPG Capital for US$920 million. The transaction was conducted on June 30 of the same year. carry out;
- On April 29, 2007, HealthSouth sold its diagnostic department to Gores Group for US$47.5 million. The transaction was completed on July 31 of the same year to establish Diagnostic Health Corporation.