CAPSTONE CAPITAL CORPORATION ACQUIRES SOUTHEAST TEXAS REHABILITATION HOSPITAL.BIRMINGHAM, Alabama--(BUSINESS WIRE)--April 17, 1996--Capstone Capital Corporation (NYSE NYSE See: New York Stock Exchange :CCT CCT Circuit CCT Commission Canadienne du Tourisme (Canadian Tourism Commission) CCT Correlated Color Temperature CCT Common Customs Tariff (EU) CCT Certificate of Completion of Training ) announced today that it has completed the acquisition of the Southeast Texas Southeast Texas is a subregion of East Texas located in the southeast corner of the U.S. state of Texas. The subregion is geographically centered around the Houston–Sugar Land–Baytown and Beaumont–Port Arthur metropolitan areas. Rehabilitation Hospital Hospital devoted to the rehabilitation of patients with various neurologic, musculoskeletal, orthopedic and other medical conditions following stabilization of their acute medical issues. from Finova Capital Corporation in a transaction totaling $10.5 million. The facility will continue to be leased to, and operated by, a subsidiary of Horizon/CMS Healthcare Corporation (NYSE: HHC HHC Home Health Care HHC Headquarters Company HHC Health and Hospitals Corporation (New York, NY) HHC Hand-Held Computer HHC Hiphopcanada Inc. ). The Southeast Texas Rehabilitation Hospital is a 60 bed, 61,000 square foot inpatient rehabilitation hospital located in Beaumont, Texas. Horizon/CMS is a leading provider of post-acute healthcare services, including specialty healthcare services and long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. services, principally in the midwest, southwest and northeast regions of the United States. Horizon/CMS provides specialty healthcare services through 37 acute rehabilitation hospitals in 16 states, 57 specialty hospitals and subacute care units in 17 states, 145 outpatient rehabilitation clinics in 19 states and 2,686 rehabilitation therapy contracts in 35 states. Horizon/CMS provides long-term services through 119 owned and leased facilities and 147 managed facilities in a total of 19 states. John W. McRoberts, President and Chief Executive Officer, stated, "We are pleased to add this quality facility to the Capstone portfolio of healthcare properties and to add Horizon/CMS to our growing list of publicly traded national healthcare companies which operate our facilities." Capstone Capital Corporation is a self-administered real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) which currently owns, leases and provides financing for 45 healthcare related properties located in 13 states that are diversified as to operator, facility type and healthcare segment. CONTACT: Capstone Capital Corporation Andrew L. Kizer Chief Financial Officer 205/967-2092 or Sue Rodney/Adam Steinberg Media Contact: Michelle Zawrotny Morgen-Walke Associates 212/850-5600 |
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