REHABCLINICS, INC. ACQUIRES VANGUARD REHABILITATION, INC.
REHABCLINICS, INC. ACQUIRES VANGUARD REHABILITATION, INC. VALLEY FORGE, Penn., Aug. 13 /PRNewswire/ -- RehabClinics, Inc. (NASDAQ: RCII) today announced it has acquired Vanguard Rehabilitation, Inc. of Phoenix, Ariz. Terms of the acquisition were not disclosed. Vanguard is one of the leading industrial rehabilitation companies in the Phoenix marketplace. Commenting on the acquisition, RCI President James New stated, "The acquisition of Vanguard, combined with our 12 clinic network in the metropolitan area, enhances our work hardening and workers' compensation services to our clients. RCI's strategy is to develop the most extensive network of private pay outpatient physical therapy clinics in selected markets through acquisitions and internal growth. This strategy is designed to capitalize upon the highly fragmented nature of the outpatient physical therapy industry, and limited professional management, marketing and sales, information systems and access to capital which typically characterizes these practices. RCI has already established itself as one of the largest outpatient physical therapy companies in the country with 84 clinics in 11 states. -0- 8/13/92 /CONTACT: James C. New, president, or Alan Vinick, senior vice president of RehabClinics, 215-631-1873, or Susan Noonan of Noonan-Russo Communications, 212-979-9180, for RehabClinics/ (RCII) CO: Rehabclinics Inc., Vanguard Rehabilitation, Inc. ST: Pennsylvania IN: HEA SU: TNM
LD-TM -- NY003 -- 9460 08/13/92 08:32 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Aug 13, 1992|
|Previous Article:||MACINTOSH COMMON LISP 2.0 SHIPS|
|Next Article:||AMBASE REPORTS SECOND QUARTER EARNINGS|