Specialty Hospitals of America Set to Acquire Greater Southeast Community

Aug. 22, 2007 - Portsmouth, N.H. - Specialty Hospitals of America (SHA) of Portsmouth, N.H., Boston and Washington, DC, announced today that it has reached a tentative agreement and signed a letter of intent to acquire Greater Southeast Community Hospital of Washington, DC., from Envisions Hospital Corp.

James W. Rappaport, Chairman of SHA, stated, "our acquisition of Greater Southeast and its campus represents a positive step forward in addressing the health care needs of the citizens of Washington, D.C., allowing for us to expand the breadth of medical and mental health services rendered south and east of the Anacostia River."
It is expected that the process of due diligence and facility review will start immediately and last approximately 60 days, with a closing shortly thereafter.

The plans for this previously troubled health care campus will be to revitalize programs and services historically provided by Envision Hospital Corp. by integrating/incorporating the services of other current providers in the Washington, DC community, including a short term acute care hospital, a new skilled nursing facility, primary health care, outpatient services, radiology, laboratory and preventative health service programs.

Capping off this new medical mall will be the establishment of an 80 bed long term critical care facility that will meet the needs of acutely ill patients in the mid-Atlantic region.

Eric F. Rieseberg, president of SHA, stated "We are excited and enthusiastic about this opportunity to more fully meet the health care needs of the Greater Metropolitan Washington area in a more effective manner in the future than has perhaps been able to take place in the past 15 years. We will be working with some of the best health care providers in the country to bring high quality care to this community in the very near future."

SHA which is headquartered in Portsmouth, N.H., acquired The Specialty Hospital of Washington-Capitol Hill (700 Constitution Avenue, NE) in November 2005 and The Specialty Hospital of Washington –Hadley (4601 M.L. King Avenue, SE) in November 2006. Collectively referred to as The Specialty Hospital of Washington, it is largest provider of long term critical care services in Washington, D.C., and each hospital location also houses a skilled nursing facility (SNF).