Warm Springs Acquisition
MECHANICSBURG, PA, December 8, 2006 – Vibra Healthcare, LLC announced today that it, along with B.A. Healthcare, LLC has completed the acquisition of the Warm Springs Hospital System, based in San Antonio, Texas. The system owns and operates 3 hospitals, a specialty head injury facility, 8 outpatient centers, and provides Contract Management services to a number of Acute Care Hospitals and Nursing Homes.
The transaction was financed by MPT, Medical Properties Trust. The operating company, Post Acute Medical, LLC is a newly formed joint venture between a Vibra Healthcare’s subsidiary, Lonestar Healthcare, LLC and B.A. Healthcare, LLC, a Mechanicsburg, PA based specialty hospital company founded by Anthony (Tony) Misitano.
Brad Hollinger, Founder, Chairman and CEO of Vibra Healthcare, stated that “Warm Springs Hospital System has a proud legacy and outstanding reputation of providing medical rehabilitation services to south Texas for more than 60 years. Since its early beginnings Warm Springs has developed innovative programs and approaches in the treatment of patients with debilitating injuries and illnesses. The Warm Springs management team had the vision to diversify into the long term acute care hospital (LTAC) business by opening two freestanding LTAC hospitals that complement their flagship hospital in San Antonio. We are excited to be a part of their exceptional legacy.”
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 medical rehabilitation hospitals. With the addition of the Texas hospitals, Vibra will operate thirteen hospitals with 732 beds in seven states.