HORIZON HEALTHCARE ANNOUNCES THE OPENING OF A LICENSED SPECIALTY HOSPITAL IN OVERLAND PARK, KAN.
ALBUQUERQUE, N.M., March 8 /PRNewswire/ -- Horizon Healthcare Corp. (NYSE: HHC) announced today the opening of the Horizon Specialty Hospital in Overland Park, Kan. The 28 bed specialty hospital will be operated by the company under a Specialty Hospital license and will serve the needs of patients with medically complex conditions at substantially lower cost than in the acute hospital setting. Horizon operates four specialty hospitals and 4 subacute care units which provide an extensive array of subacute medical and rehabilitation programs. Commenting on the announcement, Neal Elliott, Horizon's chairman and chief executive officer stated, "We are pleased with the opening of this, our fourth licensed specialty hospital. The new facility will allow us to continue earnings growth from our specialty services segment of our business and provides a cost effective alternative to higher cost delivery systems to meet the aims of healthcare reform. The Clinton administration has stated they will focus on reducing acute hospital costs as one of their healthcare reform objectives. Our specialty hospital program is specifically designed to benefit from the increasing need to move patients as quickly as possible into a less costly specialty care facility that meets their complex medical needs. "The Horizon Specialty Hospital is dedicated to providing specialized care for subacute rehabilitation and medically complex conditions requiring ventilator care, I.V. therapy, head trauma care, and specialized rehabilitation. These patients have historically received care in the acute care hospital setting, but do not require all of the costly services available in an acute care hospital. Horizon's specialty program provides high quality and appropriate care for these patients at the lowest cost, the ideal combination to meet the needs of the rapidly growing managed care market." Horizon Healthcare, headquartered in Albuquerque is a leading provider of quality specialty healthcare services including licensed specialty hospitals and subacute care, pharmacy services, rehabilitation therapies, Alzheimer's care and long-term care nursing. The company operates four specialty hospitals, four specialty subacute units, 75 long-term care centers with a total of 8,528 beds in 10 states, and institutional pharmacy operations implementing contracts to serve 21,500 beds by the end of this fiscal year. -0- 3/8/93 /CONTACT: Michael H. Seeliger of Horizon Healthcare, 505-881-4961/ (HHC)
CO: Horizon Healthcare Corp.; Horizon Specialty Hospital ST: New Mexico, Kansas IN: HEA SU:
MC -- DV003 -- 3982 03/08/93 11:51 EST
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|Date:||Mar 8, 1993|
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