Vibra Healthcare Acquires Two Hospitals in Southern California
MECHANICSBURG, PA, June 1, 2008 – Vibra Healthcare, LLC (“Vibra”) announced today that it has completed the acquisition of two specialty hospitals in Southern California. The acquisition included the Continental Rehabilitation Hospital of San Diego (a 110-bed freestanding Long Term Acute Care Hospital -- LTACH) and the Robert H. Ballard Rehabilitation Hospital in San Bernardino, CA (a 60-bed freestanding Acute Rehabilitation Hospital).
Brad Hollinger, Founder, Chairman and CEO of Vibra Healthcare stated that, “The acquisition of the Continental and Ballard hospitals represent the advancement of Vibra’s strategy to acquire specialty hospitals in markets where post-acute opportunities are strong. The hospitals have a long history of providing excellent patient care and are recognized for clinical excellence. With the addition of these hospitals, Vibra has 5 hospitals in California. Their locations are optimal for regional market penetration and capture of administrative economies of scale. We are pleased to add them to our family of specialty hospitals.”
Vibra Healthcare LLC is a specialty hospital provider based in Mechanicsburg, Pennsylvania, focused on the development, acquisition and operation of freestanding long-term acute care and acute medical rehabilitation hospitals. With the addition of the two Southern California hospitals, Vibra operates sixteen freestanding hospitals with more than 1200-beds in nine states.