HealthSouth To Buy In Patient Rehab Hospital Operator For $730 Million

HealthSouth Corp. said on Thursday it will buy inpatient rehabilitation hospital operator Reliant Hospital Partners for $730 million in cash. HealthSouth said given the structuring of the deal, which should close this year, the company expects to realize a tax benefit of $125 million to $150 million. HealthSouth expects the deal to immediately add to earnings. Reliant generated revenue of $249 million in 2014. HealthSouth's stock, which was still inactive in premarket trade, has run up 13% year to date, while the S&P 500 has gained 2.3%.