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INTEGRATED HEALTH SERVICES ACQUIRES REHABILITATION COMPANY

 OWINGS MILLS, Md., Dec. 8 /PRNewswire/ -- Integrated Health Services, Inc. (IHS) (NYSE: IHS) today announced that it has acquired a private rehabilitation company based In Minnesota. The company primarily provides contract rehabilitation services (e.g., physical, speech and occupational therapy) to skilled nursing facilities.
 "The acquisition of a rehabilitation company allows IHS to continue to vertically integrate its services," said Robert N. Elkins, M.D., chairman and chief executive officer of IHS. "This acquisition reflects a key initiative in our company's strategy to provide a full spectrum of services within each local market and state and permits the development of capitated billing. The company will develop for IHS the next stage of comprehensive services for the subacute rehab patient."
 The transaction is accretive to 1994 earnings. The rehabilitation company has contracts with 48 long term care facilities and 1992 revenues of approximately $16.5 million.
 "IHS will turn over all leased and owned rehab operations to the company as well as the rehab operations of our affiliated management division," said Dr. Elkins. "Our goal is to attain rehab revenue in excess of $100 million within 24 months."
 Integrated Health Services is the leading national provider of subacute care, a healthcare approach increasingly recognized by insurers and industry experts as an effective solution to rising healthcare costs. IHS provides a wide range of medical and rehabilitative services traditionally given in an acute care hospital. Patients who are medically stable, but require sophisticated monitoring and therapy, receive specialized care, such as ventilator therapy, wound management, and post-operative care, at a savings of approximately 20 to 60 percent compared to traditional acute care hospitals. The IHS subacute setting offers a high level of patient care in a less institutionalized environment more conducive to recovery. IHS currently operates 106 facilities nationwide with more than 13,700 beds, including 2,300 subacute beds.
 -0- 12/8/93
 /CONTACT: Robert N. Elkins, M.D., chairman & CEO or Marc B. Lavin, senior vice president of Integrated Health Services, Inc., 410-998-8400; or Susan A. Noonan or Anthony J. Russo, Ph.D., of Noonan/Russo Communications, Inc., 212-696-4455/
 (IHS)


CO: Integrated Health Services, Inc. ST: Maryland, Minnesota IN: HEA MTC SU: TNM

WB -- NY008 -- 1608 12/08/93 08:31 EST
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Publication:PR Newswire
Date:Dec 8, 1993
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