MECHANICSBURG, Pa. and
PHOENIX, Ariz., Jan. 9, 2018 /PRNewswire/ -- Select Medical
today announced a joint venture agreement with Banner Health to
combine operations of more than 38 physical therapy centers in
Arizona and four acute inpatient
rehabilitation hospitals located in Phoenix. Banner Health
will be the majority owner; Select Medical will serve as managing
partner.
The deal includes the construction of three new acute inpatient
rehabilitation hospitals beginning in 2018 with anticipated
completion by 2019. Future plans involve consolidation of the
existing hospitals into the new state-of-the-art facilities
designed to better serve the needs of patients requiring care
resulting from stroke, spinal cord injury, brain injury,
amputation, neurological disorders, among other
conditions.
"This agreement brings together two top-ranked health care
providers to serve Arizona," said
Peter S. Fine, president and CEO of
Phoenix-based Banner Health.
"When Banner Health went searching for a partner for these
specialty, post-acute care services, it quickly became apparent
that Select Medical was the best fit. They share Banner's
commitment to clinical quality and our obsession with making health
care easier so life can be better for our patients and their
families."
Under the agreement, the combined outpatient rehabilitation
services will include 26 Select Physical Therapy centers currently
operating in the region as well as 12 Banner Health Physical
Therapy and Rehabilitation centers. The four inpatient
rehabilitation hospitals to be contributed to the joint venture are
currently located at Banner University Medical Center Phoenix,
Banner Boswell Medical Center in Sun
City, Ariz., Banner Del E. Webb Medical Center in
Sun City West, Ariz. and Banner
Baywood Medical Center in Mesa,
Ariz.
"We are honored to partner with such an esteemed system as
Banner Health to collaborate and innovate in a way that will raise
the bar of excellence in rehabilitative patient care for
Arizonans," said Select Medical President and CEO David S. Chernow.
About Banner Health
Headquartered in Arizona, Banner Health is one of the largest
nonprofit health care systems in the country. The system owns and
operates 28 acute-care hospitals, Banner Health Network, Banner –
University Medicine, academic and employed physician groups,
long-term care centers, outpatient surgery centers and an array of
other services; including Banner Urgent Care, family clinics, home
care and hospice services, pharmacies and a nursing registry.
Banner Health is in six states: Arizona, California, Colorado, Nebraska, Nevada and Wyoming. For more information, visit
www.bannerhealth.com.
About Select Medical Holdings Corporation
Select
Medical Corporation, a wholly-owned subsidiary of Select Medical
Holdings Corporation (NYSE: SEM), began operations in 1997 and has
grown to be one of the largest operators of specialty hospitals,
outpatient rehabilitation clinics, and occupational health centers
in the United States based on the
number of facilities. As of September 30,
2017, Select Medical operated 101 long term acute care
hospitals and 22 acute medical rehabilitation hospitals in 28
states and 1,604 outpatient rehabilitation clinics in 37 states and
the District of Columbia. Select
Medical's joint venture subsidiary Concentra operated 312 centers
in 38 states. Concentra also provides contract services at employer
worksites and Department of Veterans Affairs community-based
outpatient clinics. At September 30,
2017, Select Medical had operations in 46 states and the
District of Columbia. Information
about Select Medical is available at www.selectmedical.com.
Media Inquiries
|
|
For Select
Medical:
|
For Banner
Health:
|
Shelly Eckenroth,
Vice President, Communications
|
Jeff Nelson, Public
Relations & Marketing Director
|
seckenroth@selectmedical.com or
717-920-4035
|
Jeff.nelson@bannerhealth.com or
602-865-5771
|
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content:http://www.prnewswire.com/news-releases/banner-health-and-select-medical-enter-joint-venture-to-operate-physical-therapy-centers-and-acute-inpatient-rehabilitation-hospitals-in-arizona-300579466.html
SOURCE Select Medical Corporation