RehabCare Group receives approval to acquire St. Agnes Long-Term Care Hospital

Dec 17 2009

RehabCare Group, Inc. (NYSE: RHB) announced today it has received regulatory approval for the acquisition of St. Agnes Long-Term Care Hospital from Mercy Health System. The 58-bed long-term acute care hospital (LTACH), located at 1930 South Broad Street in the former St. Agnes Medical Center in Philadelphia, PA, will be operated by Triumph HealthCare, a RehabCare subsidiary. It is the 28th hospital in Triumph’s portfolio, which includes seven legacy RehabCare LTACHs now managed by Triumph, and its first in the Philadelphia market. RehabCare announced its merger with Triumph HealthCare in November.

The newly named Triumph Hospital Philadelphia will continue in its current location but will expand its existing scope of services.

“Triumph will begin construction in January on a new 10-bed licensed Intensive Care Unit (ICU) as well as the build-out for additional onsite diagnostic procedures for LTACH patients,” said Brock Hardaway, Triumph President and Chief Operating Officer. “The expanded services will allow the hospital to more fully meet the needs of patients requiring specialized care during an extended hospital stay.”