HEALTHSOUTH, CONTINENTAL MEDICAL SYSTEMS MERGER TERMINATED.
HEALTHSOUTH, CONTINENTAL MEDICAL SYSTEMS MERGER TERMINATATED BIRMINGHAM, Ala., May 6 /PRNewswire/ -- HEALTHSOUTH Rehabilitation Corporation (NYSE: HRC) today announced that its board of directors and the board of directors of Continental Medical Systems, Inc. (NYSE: CNM) have determined that it is not in the best interests of their respective shareholders to proceed with the proposed combination of the two companies and, accordingly, the Agreement and Plan of Reorganization has been terminated by the mutual consent of both companies. -0- 5/6/92 /CONTACT: Richard M. Scrushy, chairman of the board, president and chief executive officer, or Aaron Beam Jr., senior vice president and chief financial officer of HEALTHSOUTH Rehabilitation, 205-967-7116/ (HRC CNM) CO: HEALTHSOUTH Rehabilitation Corporation; Continental Medical Systems, Inc. ST: Alabama IN: HEA SU: TNM
BR -- AT001 -- 6891 05/06/92 08:19 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||May 6, 1992|
|Previous Article:||NERCO REPORTS FIRST QUARTER RESULTS, PLANS TO SELL ASSETS|
|Next Article:||GAMMA OBTAINS $50 MILLION FINANCING PACKAGE|