HealthSouth and Tidelands Health announce joint venture in South Carolina
August 29, 2016
MURRELLS INLET, SC – HealthSouth Corporation (NYSE: HLS) and Tidelands Health have formed a joint venture to own and operate Tidelands’ existing inpatient rehabilitation hospital. The hospital is located at 4070 Highway 17 Bypass South in Murrells Inlet, South Carolina, on the campus of Tidelands Waccamaw Community Hospital. The joint venture expects to operate 29 inpatient rehabilitation beds at this location.
In addition, the joint venture plans to file a Certificate of Need application to build a second, 46-bed inpatient rehabilitation hospital that will be located in Little River, South Carolina. The state-of-the-art hospital will supplement the joint venture’s ability to provide comprehensive, inpatient physical rehabilitation to residents of the Little River area who have experienced stroke, trauma, brain injury and complex orthopedic conditions, as well as other major illnesses or injuries.
“The joint venture will provide increased access to high-quality physical rehabilitation for the residents of Georgetown and Horry counties and the surrounding communities,” said Ed Mowen, president of the MidAtlantic region for HealthSouth.”
Bruce Bailey, president and CEO of Tidelands Health, said the partnership will better enable the region’s largest health system to meet the fast-growing area’s need for superior, compassionate inpatient rehabilitation care.
The hospitals will join HealthSouth’s national network of inpatient rehabilitation hospitals including five currently operating in South Carolina.
The joint venture’s operation of the inpatient rehabilitation hospital in Murrells Inlet, South Carolina, is expected to begin in 2018, and is subject to customary closing conditions, including regulatory approvals. The hospital will continue to operate under the name Tidelands Waccamaw Rehabilitation Hospital. Construction on the new hospital in Little River, South Carolina, will begin following the approval of the Certificate of Need, and the new hospital will commence operations following completion of construction and receipt of all necessary regulatory approvals.
About Tidelands Health
Tidelands Health is the largest health care provider in Georgetown and Horry counties. With three hospitals and more than 40 outpatient locations that stretch from Andrews to North Myrtle Beach, Tidelands Health is improving lives across the Tidelands region.
About HealthSouth
HealthSouth is one of the nation’s largest providers of post-acute healthcare services, offering both facility-based and home-based post-acute services in 34 states and Puerto Rico through its network of inpatient rehabilitation hospitals, home health agencies, and hospice agencies. HealthSouth can be found on the web at www.healthsouth.com.
