JV Acquires Inpatient Rehab Hospital Outside Austin
- May 09, 2018
The joint venture comprising Baylor Scott & White Health and Select Medical has expanded into the Austin, Texas, area with the acquisition of a 36-bed inpatient rehabilitation hospital in Lakeway. Purchased from Welltower, the facility will be rebranded as Baylor Scott & White Institution for Rehabilitation – Lakeway. The deal is expected to close by July 2018.
The partnership formed in 2011 in North Texas and their portfolio nowadays includes 66 outpatient rehabilitation clinics, three inpatient rehabilitation hospitals and home health rehabilitation services. More than 1,900 people work at the joint venture’s healthcare facilities.
“With our combined presence in the Austin area, we will have a unique opportunity to leverage the skills and strengths of our two organizations to elevate the rehabilitation services we offer in the community,” Jay Fox, president, Baylor Scott & White – Austin/Round Rock region, said in prepared remarks.
“We saw a growing need to expand our acute rehabilitation services to serve a wider patient population throughout Texas,” added David Chernow, president & CEO, Select Medical. “Working together, Baylor Scott & White and Select Medical will provide high quality of care and improved functional recovery outcomes for traumatic brain injury, spinal cord injury and stroke patients throughout North and Central Texas.”