Select Medical and Spectrum Health Form Joint Venture to Provide Long-Term Acute Care to Grand Rapids Community
MECHANICSBURG, PENNSYLVANIA and GRAND RAPIDS, MICHIGAN, March 31, 2017 — Select Medical Corporation, a wholly-owned subsidiary of Select Medical Holdings Corporation (NYSE: SEM), and Spectrum Health, a not-for-profit health system, today announced a joint venture to operate a long-term acute care hospital (LTACH) on the Spectrum Health Blodgett Hospital campus in East Grand Rapids, Michigan. The planned joint venture expects to begin operating the 36-bed LTACH in summer 2017, subject to regulatory approvals.
“Our joint venture with Spectrum Health serves a growing need for patients with highly complex medical needs requiring long-term acute care,” said Brian Davis, president of the LTACH division at Select Medical. “As an award-winning hospital that shares our mission to deliver a high quality, exceptional patient experience, we’re confident that Select Medical and Spectrum Health will be an outstanding partner in Grand Rapids for many years to come.”
“We are pleased to team with Select Medical to offer long-term acute care in Grand Rapids,” said Tina Freese Decker, president, Spectrum Health Hospital Group. “Spectrum Health has a long history of providing high quality, compassionate and personalized patient care and this partnership underscores our commitment to provide best-in-class care to our system, better serving the community.”
Select Medical operates 11 LTACHs in Michigan, and more than 100 nationwide. The Select Medical-Spectrum Health venture will acquire Spectrum Health Special Care Hospital, the LTACH currently operated by Spectrum Health.
About Spectrum Health
Spectrum Health is a not-for-profit health system, based in West Michigan, offering a full continuum of care through the Spectrum Health Hospital Group, which is comprised of 12 hospitals, including Helen DeVos Children’s Hospital; about 180 ambulatory and service sites; more than 3,200 physicians and advanced practice providers, including about 1,400 members of the Spectrum Health Medical Group; and Priority Health, a health plan with about 790,000 members. Spectrum Health is West Michigan’s largest employer, with 25,300 employees. The organization provided more than $326 million in community benefit during its 2016 fiscal year. Spectrum Health was named one of the nation’s 15 Top Health Systems—and in the top five among the largest health systems—by Truven Health Analytics™ for 2016. This is the fifth time the organization has received this recognition. More information is available at spectrumhealth.org.
About Select Medical Holdings Corporation
Select Medical began operations in 1997 and has grown to be one of the largest operators of specialty hospitals, outpatient rehabilitation clinics and occupational health centers in the United States based on the number of facilities. As of December 31, 2016, Select Medical operated 103 long-term acute care hospitals and 20 acute medical rehabilitation hospitals in 27 states and 1,611 outpatient rehabilitation clinics in 37 states and the District of Columbia. Select Medical’s joint venture subsidiary Concentra operates 300 centers in 38 states. Concentra also provides contract services at employer worksites and Department of Veterans Affairs community-based outpatient clinics. At December 31, 2016, Select Medical had operations in 46 states and the District of Columbia. Information about Select Medical is available at www.selectmedical.com.
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