HealthSouth, Gores Group finalize purchase
The Gores Group, a Los Angeles-based private equity firm, finalized its agreement with HealthSouth Corporation of Birmingham, Ala., to purchase its diagnostic division, creating Diagnostic Health Corporation (DHC), an independent diagnostic imaging company. The new company is currently comprised of a network of 53 freestanding diagnostic imaging centers in 19 states and the District of Columbia.
While not all services are provided at all sites, 80 percent of the centers are multimodality facilities offering a combination of outpatient diagnostic imaging services, including MRI, CT, X-ray, ultrasound, mammography, fluoroscopy, and nuclear medicine services, DHC said.
According to HealthSouth CEO Jay Grinney, the move is one of the final steps in the company’s strategic plan to de-leverage its balance sheet and reposition itself as a “pure-play,” post-acute care provider. The firm said that the transaction will help to reduce its long-term debt, and enable it to focus its resources on its inpatient rehabilitative care business.
While not all services are provided at all sites, 80 percent of the centers are multimodality facilities offering a combination of outpatient diagnostic imaging services, including MRI, CT, X-ray, ultrasound, mammography, fluoroscopy, and nuclear medicine services, DHC said.
According to HealthSouth CEO Jay Grinney, the move is one of the final steps in the company’s strategic plan to de-leverage its balance sheet and reposition itself as a “pure-play,” post-acute care provider. The firm said that the transaction will help to reduce its long-term debt, and enable it to focus its resources on its inpatient rehabilitative care business.