Rockwall Buys Hospitals Affected by Economy
(04/28/2009)

RICHARDSON, Texas — Rockwall Hospitals Inc., a management company that develops and operates hospitals co-owned by physicians, announced it has acquired two hospitals owned by a healthcare provider that filed for bankruptcy protection.

The purchase price for the two hospitals was not disclosed.

Integra Hospital Plano, a 73-bed rehabilitation facility in Plano, Texas, and Sage Rehabilitation Hospital, a 42-bed facility in Baton Rouge, La., were bought by Rockwall from Plano-based Integra Hospital Management LLC, which filed for bankruptcy in late 2008. The Baton Rouge facility is the first hospital outside of Texas owned by the Richardson-based company.

“These hospitals have done excellent jobs of maintaining high patient censuses during their former owner’s bankruptcy,” says Mark W. Kennedy, president and CEO of Rockwall Hospitals.

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Rockwell intends to offer ownership opportunities in both hospitals to qualified local physicians, according to Kennedy.

Almost all employees at both hospitals will keep their jobs, he says. Integra Hospital Plano has 241 part-time and full-time staff. Sage Rehabilitation Hospital has 242 part-time and full-time staff.

Greg Rogers is the new CEO for Integra Hospital Plano, and Jay Ivy will remain CEO of Sage Rehabilitation.

Sage Rehabilitation has been open for seven years. It provides inpatient and outpatient care with 33 rehabilitation beds and nine skilled nursing beds.

The Plano hospital opened in April 2007. It has 61 rehabilitation beds and 12 skilled nursing beds.

Kennedy and Dan Gideon, Rockwall Hospital’s COO, say the company is exploring opportunities for expansions and enhancements at each facility.

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