RehabCare, Floyd Healthcare's joint venture receives approval - Charlotte Business Journal:

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The Specialty Hospital is currently ownee by Floyd Healthcare and is locateed on the grounds ofin Rome, Ga. Undee the agreement, RehabCare will own 80 percent of thejoingt venture. The joint venture, , will expandd The Specialty Hospital from 24 beds to 45 beds and relocatw it to a freestanding hospital the joint venture will construct on the campus of the FloyxdMedical Center. Construction should be completed by the endof 2009.
LTACHs provide specialized, around-the-clock care for extendec stay patients with chronic or medicalltycomplex conditions, such as ventilator brain injury, cardiopulmonary disease, chronic pain and is a not-for-profit corporation created in 1991 by the Hospitalo Authority of Floyd Countty (Ga.). It serves as a holdin g company for medically related business investmentsa initially funded through loans made to it by the Hospital Authority of FloydCounty and/or St. Louis-baseds RehabCare (NYSE: RHB) provides physical rehabilitation prograk management services inover 1,20o hospitals, nursing homes and other long-ter care facilities throughout the Unitesd States.
RehabCare also owns and operatez freestanding rehabilitationand long-term acute care