Beverly Enterprises expands outpatient therapy operations.FORT SMITH, Ark.--(BUSINESS WIRE)--Dec. 5, 1996--Beverly Enterprises, Inc. (NYSE NYSE See: New York Stock Exchange :BEV) today announced that its Spectra Rehab Alliance subsidiary has acquired Progressive Sports Medicine sports medicine, branch of medicine concerned with physical fitness and with the treatment and prevention of injuries and other disorders related to sports. Knee, leg, back, and shoulder injuries; stiffness and pain in joints; tendinitis; "tennis elbow"; and , a privately held network of 13 outpatient therapy clinics in metropolitan Atlanta. As a result of this acquisition, Spectra now operates 27 therapy clinics in the Dallas, Houston, Cleveland and Atlanta markets. The price was not disclosed. "Our growing network of outpatient therapy clinics is a cost-effective complement to Beverly's skilled nursing centers," said David R. Banks, Beverly chairman and chief executive officer. "These clinics also provide us the opportunity to build a promising stand-alone business in a growth industry that offers attractive margins." Beverly Enterprises, Inc. is the leading provider of post-acute healthcare in the United States. It operates 630 skilled nursing facilities skilled nursing facility n. Abbr. SNF An establishment that houses chronically ill, usually elderly patients, and provides long-term nursing care, rehabilitation, and other services. , as well as transitional acute care hospitals, institutional and mail-service pharmacies, outpatient therapy clinics, and hospice and home health centers. Beverly provides medical cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. and managed care services in a nationwide network spanning 37 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . CONTACT: Beverly Enterprises, Inc., Fort Smith Jim Griffith, 501/484-6912 |
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