Vibra Healthcare Announces Interim Management Agreement With Complex Care Hospital Of Idaho
MECHANICSBURG, Pa., March 28, 2013 /PRNewswire/ -- Vibra Healthcare, LLC ("Vibra"), an owner and operator of Long Term Acute Care (LTAC) hospitals and Inpatient Rehabilitation Hospitals (IRF) throughout the country has entered into an interim management agreement through an affiliate, Vibra Hospital of Boise, LLC, with the Complex Care Hospital of Idaho ("CCHI"). CCHI is a wholly-owned subsidiary of LCI Holdco, LLC the parent company of LifeCare Holdings, Inc., of Plano, Texas. Under the interim management agreement, Vibra will assume day-to-day operations of the Boise hospital upon Bankruptcy Court approval of the motion filed yesterday. A hearing on the motion is scheduled for Tuesday, April 2. LifeCare will continue its responsibilities for billing, collections and payment of employees under the management agreement.
Vibra and LifeCare also executed an agreement today for Vibra's acquisition of substantially all of the assets of CCHI and the continued employment of CCHI's employees. The proposed sale is subject to terms set forth in the agreement including customary conditions such as Bankruptcy Court and regulatory approval.
"We are pleased to add the Complex Care Hospital of Idaho to the Vibra network of specialty hospitals and to work with LifeCare to ensure a seamless transition for CCHI patients and their families. We offer market specific services to meet the unique and complex needs in each healthcare community Vibra serves, and in turn further our strategic growth objectives," stated Brad Hollinger, Founder, Chairman and CEO of Vibra Healthcare. "We are committed to working closely with LifeCare, the CCHI team and the local market to insure patients and their families receive the very best in patient care and family support."
About Vibra Healthcare, LLCVibra Healthcare, LLC is a specialty hospital provider based in Mechanicsburg, Pa that is focused on the development, acquisition and operation of freestanding Long Term Acute Care (LTAC) hospitals, Inpatient Acute Rehabilitation Hospitals (IRF's) and outpatient physical rehabilitation centers. Teams of highly trained specialists lead clinical programs at Vibra's specialty hospitals for medically complex patients who suffer from complex orthopedic, neurologic, stroke, multiple trauma, cardiac and respiratory conditions. Vibra currently employs over 5,000 employees and owns and operates over 50 specialty hospitals and outpatient rehabilitation locations in 11 states. For additional information about Vibra Healthcare and its network of specialty hospitals please visit our website at http://www.vibrahealthcare.com.SOURCE Vibra Healthcare, LLC
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