|FOR IMMEDIATE RELEASE
July 10, 2006
|CONTACT: Don Yoder
(Mechanicsburg, Penn.) - Vibra Healthcare announced today that it has entered into a definitive agreement to purchase the Physicians’ Hospital in the Gateway area of Portland, Ore.
The transaction, expected to close by Aug. 1, will make the hospital the only freestanding long-term, acute care hospital (LTACH) in Oregon.
LTACHs provide specialized acute and rehabilitative care to medically complex patients. These patients are critically ill or have multi-system complications or failures that require extended acute care treatment after their discharge from a traditional acute care hospital, typically from the intensive care unit. Focused clinical care in the LTACH environment promotes high-quality outcomes and offers cost-efficient treatment to patients who may be dependent on life support systems, such as feeding tubes, ventilators, dialysis, and respiratory and/or cardiac monitoring.
“We are pleased to be the inaugural provider of LTACH services in the state of Oregon,” said Brad Hollinger, founder, chairman and CEO of Vibra Healthcare. “To become part of the Portland healthcare continuum with its outstanding reputation for clinical excellence and patient care is an opportunity we could not pass up. When completed, the LTACH will fill a vital role in the continuum of care, providing services to medically complex patients when they are discharged from an acute care hospital. By providing this important level of patient care, we will serve as a complimentary resource for the acute care hospital systems of Portland.”
Vibra Healthcare, LLC is a specialty health care provider based in Mechanicsburg, Penn., focused on the development, acquisition and operation of freestanding long-term acute care and medical rehabilitation hospitals. With the addition of the Portland hospital, Vibra will operate 10 hospitals in eight states. In addition, Vibra’s development pipeline is expanding with ten hospitals in various stages of development.