RehabCare Finalizes Deal for Philadelphia Long-Term Acute Care Hospital

ST. LOUIS, MO and HOUSTON, TX, December 16, 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 our LTAC 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.”
Triumph hospitals specialize in providing services to medically complex patients for whom the general acute care hospital is no longer the most appropriate or cost-effective setting. LTACHs have an average length of stay of more than 25 days compared with the five- to seven-day lengths of stay in general hospitals, explained Hardaway. Triumph will work closely with area hospitals to ensure that patients requiring extended hospitalizations receive the highest quality care.