Five Star Quality Care transfers 2 rehab hospitals to Reliant Hospital Partners
Five Star Quality Care said it transferred the operations of two rehabilitation hospitals to Reliant Hospital Partners, a portfolio company of Nautic Partners, effective Dec. 31. The two hospitals are New England Rehabilitation Hospital, of Woburn, Mass., and Braintree Rehabilitation Hospital located in Braintree, Mass. With the transfer, FVE expects to realize cash proceeds of approximately $8 million from the retention of its working capital investment in these hospitals. Jefferies acted as a financial advisor in connection with this transaction.
3 January 2014•4 mins read
