RehabCare Announces Merger with Triumph Healthcare
This is an exciting time for
RehabCare! Along with strong third
quarter financial results, we have just announced a merger agreement with
Triumph HealthCare. This transaction is our largest to date. It also will expand our capabilities in a
critical component of the post-acute continuum – long-term acute care hospitals
(LTACHs) – allowing us to incorporate the best practices of one of the largest
and most successful operators of LTACHs in the country.
Founded in 1999 and with about 3,800
employees, Triumph HealthCare currently operates 20 LTACHs in seven states, with
two more hospitals expected to come online by mid-2010. The addition of Triumph will bring the number
of hospitals within our portfolio to 35, operating in 13 states. With a leading market position
in most of their locations, they consistently deliver superior outcomes for high
acuity patients through effective case management and innovative treatment.
Four years ago, we launched our
Hospital operations with the acquisition of MeadowBrook Healthcare. By melding the strengths of our two
companies, we also will build a more diverse company with the potential to
deliver the continuum of care in more markets, offer additional career options
for clinicians and reach more patients in need of specialized LTACH
services.
We look forward to welcoming the
members of Triumph to the RehabCare team when this transaction closes.
