RehabCare Group, Inc. announced today it has reached an agreement with Premier, Inc. to sell Phase 2 Consulting, which makes up its Healthcare Management Consulting division, to the national healthcare alliance. RehabCare has been a contracted service supplier for Premier since 2007. Financial terms of the agreement were not disclosed.
John H. Short, Ph.D, RehabCare President and Chief Executive Officer, said the divestiture is in support of its long-term strategic plan, and the net cash proceeds from the sale will be used to further reduce the Company’s outstanding debt.
“Given the aging population and the support for bundled Medicare payments building in Washington, we foresee a rapidly expanding demand for our continuum of post-acute care services. This transaction allows us to focus more of our resources and energies on our core business,” Dr. Short said.
Founded in 1986 by Dr. Short, Phase 2 Consulting provides management and economic consulting services to the healthcare industry, specializing in strategic planning, revenue cycle enhancement, physician alignment and clinical operations improvement. With offices in Salt Lake City, UT and Austin, TX, the firm has provided advisory services for some of the nation’s leading hospitals and health systems. In 2004, it was acquired by RehabCare when Dr. Short was named the Company’s new President and CEO.
“Phase 2’s client-centric approach to developing sustainable solutions will strengthen Premier’s portfolio of products and services for its member hospitals and healthcare providers,” said Dr. Short. “Likewise, Premier’s vast network and knowledge base will elevate Phase 2 to the next level – creating a win-win-win situation for our three organizations.
“On a personal note, I want to wish my Phase 2 colleagues, some of whom I have worked alongside for more than 20 years, continued growth and success. You are in capable hands.”
With more than 25 years experience, RehabCare (www.rehabcare.com), a St. Louis-based company, is a leading national provider of physical rehabilitation services in conjunction with 1,200 hospitals and skilled nursing facilities in 42 states. The Company also owns and/or operates freestanding rehabilitation and long-term acute care hospitals.
source: yahoo
John H. Short, Ph.D, RehabCare President and Chief Executive Officer, said the divestiture is in support of its long-term strategic plan, and the net cash proceeds from the sale will be used to further reduce the Company’s outstanding debt.
“Given the aging population and the support for bundled Medicare payments building in Washington, we foresee a rapidly expanding demand for our continuum of post-acute care services. This transaction allows us to focus more of our resources and energies on our core business,” Dr. Short said.
Founded in 1986 by Dr. Short, Phase 2 Consulting provides management and economic consulting services to the healthcare industry, specializing in strategic planning, revenue cycle enhancement, physician alignment and clinical operations improvement. With offices in Salt Lake City, UT and Austin, TX, the firm has provided advisory services for some of the nation’s leading hospitals and health systems. In 2004, it was acquired by RehabCare when Dr. Short was named the Company’s new President and CEO.
“Phase 2’s client-centric approach to developing sustainable solutions will strengthen Premier’s portfolio of products and services for its member hospitals and healthcare providers,” said Dr. Short. “Likewise, Premier’s vast network and knowledge base will elevate Phase 2 to the next level – creating a win-win-win situation for our three organizations.
“On a personal note, I want to wish my Phase 2 colleagues, some of whom I have worked alongside for more than 20 years, continued growth and success. You are in capable hands.”
With more than 25 years experience, RehabCare (www.rehabcare.com), a St. Louis-based company, is a leading national provider of physical rehabilitation services in conjunction with 1,200 hospitals and skilled nursing facilities in 42 states. The Company also owns and/or operates freestanding rehabilitation and long-term acute care hospitals.
source: yahoo
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