Vibra Healthcare Enters Partnership to Combine Ernest Health, Inc. and Certain Vibra Healthcare Assets
FOR IMMEDIATE RELEASE
Vibra Healthcare Enters Partnership to Combine Ernest Health, Inc.
and Certain Vibra Healthcare Assets
MECHANICSBURG, PA, May 31, 2018 – Vibra Healthcare, LLC (“Vibra”), a post-acute care provider, today announced it has reached an agreement to form a partnership consisting of Ernest Health, Inc. (“Ernest”), and several Vibra rehabilitation hospitals and development projects, which will be contributed in exchange for a significant equity participation in the new entity. One Equity Partners (“OEP”), a leading middle market private equity firm which joins Vibra in the partnership, has agreed to acquire Ernest from Medical Properties Trust (“MPT”) and Ernest’s management shareholders. Following the completion of the transactions, Ernest will be managed by the Vibra management team, led by Chairman & CEO Brad Hollinger, and will continue to operate under the Ernest name.
Ernest currently operates twenty-five inpatient rehabilitation and long-term acute care hospitals in eleven states, including Arizona, Colorado, Idaho, Indiana, Montana, New Mexico, Ohio, South Carolina, Texas, Utah and Wyoming. Financial details of the transactions have not been disclosed. The transactions are expected to close during the third quarter of 2018.
“We are very excited to have the opportunity to join forces with an organization with an exceptional industry reputation,” stated Brad Hollinger, Vibra’s Chairman and Chief Executive Officer. “The Ernest management team is recognized as an industry leader in patient care and we look forward to establishing best practices system wide. Strategically, the Ernest hospitals balance Vibra’s portfolio of hospitals between inpatient rehabilitation and long-term acute care, better positioning Vibra to thrive in the fast-changing post-acute environment. From a geographic perspective, Ernest provides Vibra entry into over twenty new markets. Furthermore, we are delighted to partner with OEP, a private equity firm with an outstanding reputation for creating shareholder value,” Hollinger added.
“The Vibra management team has demonstrated a tremendous ability to grow companies across the post-acute care continuum organically and via acquisitions. The opportunity to partner with Brad and the Vibra management team was a critical factor in our decision to acquire Ernest. The combination of Ernest with the Vibra assets represents the culmination of several years working with the Vibra team who we believe are uniquely qualified to build upon the strong Ernest foundation,” added Greg Belinfanti, Senior Managing Director at OEP.
About Vibra Healthcare
Vibra Healthcare, LLC is a post-acute care provider based in Mechanicsburg, PA that is focused on the development, acquisition, and operation of freestanding specialty acute care hospitals, medical rehabilitation hospitals, and outpatient physical rehabilitation centers. Teams of highly trained specialists lead clinical programs at Vibra’s specialty hospitals for rehabilitating patients who suffer from strokes, multiple traumas, major orthopedic, neurologic, cardiac, and respiratory conditions. Vibra and its affiliates currently employ over 6,000 employees and own and operate 45 specialty hospitals, transitional care units/facilities, and hospital-based outpatient physical therapy locations in 14 states. For additional information about Vibra Healthcare’s network of specialty hospitals and post-acute care continuum, please visit our website at www.vibrahealthcare.com.
About One Equity Partners
OEP is a middle-market private equity firm with approximately $7 billion of assets under management focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 170 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, and Frankfurt. For more information, please visit www.oneequity.com.
Vibra Healthcare, LLC Contact:
Brad Hollinger
Chairman and CEO
717.591.5708
Vibra Healthcare, LLC Media Contact:
Diane Pierce
Executive Vice President,
Business Development
717.591.5780
Vibra Healthcare Announces Agreement to Purchase Southern Indiana Rehab Hospital
Vibra Healthcare Announces Agreement to Purchase Southern Indiana Rehab Hospital
MECHANICSBURG, PA (LOUISVILLE, KY), April 30, 2018 – Vibra Healthcare, LLC (“Vibra”) has announced today that it has reached an agreement to purchase full ownership of Southern Indiana Rehab Hospital (“SIRH”). For many years, KentuckyOne Health has managed and operated SIRH, in partnership with Clark Memorial Hospital and Baptist Health Floyd. The transition to Vibra Healthcare is set to close on June 18, 2018.
“Vibra Healthcare looks forward to continuing to serve the greater southern Indiana community with comprehensive medical rehabilitation services,” said Brad Hollinger, president and CEO of Vibra. “Our intention is to continue to provide exceptional care for SIRH patients and to enhance existing services by utilizing our expertise and experience from operating similar hospitals, including several located in Indiana and Kentucky.”
“On behalf of the team at SIRH, we are looking forward to becoming a Vibra Healthcare facility,” stated William Boso, executive director, Southern Indiana Rehab Hospital. “The collaborative support of all three of our partners has built a solid foundation and reputation. As part of Vibra Healthcare, we will continue our mission of serving the southern Indiana region with the highest quality rehab services for many years to come.”
“As the managing partner of SIRH, KentuckyOne Health is proud of the legacy established in southern Indiana,” said Charles Neumann, interim CEO, KentuckyOne Health. “We look forward to working with Vibra Healthcare on a smooth transition for SIRH and the continued collaboration with our specialists at Frazier Rehab to ensure the entire region has access to quality rehabilitation services.”
“I believe Vibra Healthcare is going be a valuable partner as we continue to improve the health of our southern Indiana communities,” said Martin Padgett, CEO, Clark Memorial Hospital. “Rehab is such an important part of completing the journey to wellness. I’m proud of the role Clark Memorial has played in this partnership for the last 24 years, and I’m excited about the future possibilities of SIRH.”
“SIRH has been our hidden jewel of rehab for many years and we are excited about this sale and new ownership,” stated Dan Eichenberger, MD, CEO of Baptist Health Floyd. “The healthcare environment is rapidly changing; with SIRH’s ownership and operation by an organization highly focused on rehab services, there is support for long-term success. We will continue partnering with SIRH just as we have for the past many years because it benefits our patients and community.”
About Vibra Healthcare:
Vibra Healthcare, LLC is a post-acute care provider based in Mechanicsburg, PA that is focused on the development, acquisition, and operation of freestanding specialty acute care hospitals, medical rehabilitation hospitals, and outpatient physical rehabilitation centers. Teams of highly trained specialists lead clinical programs at Vibra’s specialty hospitals for rehabilitating patients who suffer from strokes, multiple traumas, major orthopedic, neurologic, cardiac, and respiratory conditions. Vibra and its affiliates currently employ over 6,000 employees and own and operate 45 specialty hospitals, transitional care units/facilities, and hospital-based outpatient physical therapy locations in 14 states. For additional information about Vibra Healthcare’s network of specialty hospitals and post-acute care continuum, please visit our website at www.vibrahealthcare.com
Vibra Healthcare Media Contact:
Diane Pierce, Executive Vice President
Business Development
P: 717.591.5780
About Southern Indiana Rehab Hospital
Southern Indiana Rehab Hospital (SIRH) is a 60-bed inpatient and outpatient, not-for-profit hospital owned in a unique partnership with three of the area’s most respected health care leaders: Frazier Rehab Institute, Floyd Memorial Hospital and Health Services and Clark Memorial Hospital. Since 1994, SIRH has been providing inpatient and outpatient physical, occupational, speech and neuropsychology therapy services to children and adults suffering from injuries, illnesses and disabilities. Visit www.sirh.org for more information about SIRH.
Southern Indiana Rehab Hospital Media Contact:
David McArthur, Senior Manager, Media Relations
KentuckyOne Health
P: 502.562.7016 or 502.648.3411
davidmcarthur@kentuckyonehealth.org
Vibra Healthcare and Ernest Health to Consolidate Hospital Operations into One Location
Vibra Healthcare and Ernest Health to Consolidate Hospital Operations into One Location
MECHANICSBURG, PA (Boise, ID), January 5, 2018 – Vibra Healthcare, LLC (“Vibra”) and Ernest Health (“Ernest”) announced plans to consolidate their long-term acute care hospital (LTACH) operations in the Boise area. Vibra Hospital of Boise, currently located at 2131 South Bonito Way, Meridian, will be relocating to the space currently occupied by Southwest Idaho Advanced Care Hospital located at 6651 West Franklin Road, Boise. This relocation will also involve a re-sizing, with Vibra Hospital of Boise adjusting from a 60-bed hospital to 40 beds. The new Vibra Hospital location will continue to provide critical acute care services to patients requiring extended lengths of stay to recover from illness or injury.
“We are constantly evaluating our portfolio to look for ways to more efficiently provide services in our communities,” said Sean McCarthy, Vibra’s Divisional President. “This consolidation of services gives us the right number of beds to meet the needs of patients in the Treasure Valley and throughout the state of Idaho.” Brad Hollinger, Chairman and Chief Executive Officer of Vibra Healthcare added: “As the healthcare landscape continues to evolve, we strive to meet the unique needs of the markets we serve. We are pleased to serve the Boise market and to consolidate critical care services into one location, providing the community with the very best in medical technology and clinical expertise.”
About Vibra Healthcare
Vibra Healthcare, LLC is a post-acute care provider based in Mechanicsburg, PA that is focused on the development, acquisition, and operation of freestanding specialty acute care hospitals, medical rehabilitation hospitals, and outpatient physical rehabilitation centers. Teams of highly trained specialists lead clinical programs at Vibra’s specialty hospitals for rehabilitating patients who suffer from strokes, multiple traumas, major orthopedic, neurologic, cardiac, and respiratory conditions. Vibra and its affiliates currently employ over 6,000 employees and own and operate 45 specialty hospitals, transitional care units/facilities, and hospital-based outpatient physical therapy locations in 14 states. For additional information about Vibra Healthcare’s network of specialty hospitals and post-acute care continuum, please visit our website at www.vibrahealthcare.com.
Vibra Healthcare, LLC Contact:
Diane Pierce,
Executive Vice President Business Development
Office: 717-591-5780
Vibra Healthcare Announces Development of New Medical Rehabilitation Hospital in Sacramento, CA
Vibra Healthcare Announces Development of New Medical Rehabilitation Hospital in Sacramento, CA
MECHANICSBURG, PA (SACRAMENTO, CA), October, 9th 2017, – Vibra Healthcare, LLC (“Vibra”) announced today that it has entered into an agreement to develop a medical rehabilitation hospital in Sacramento, CA. The new two-story facility will be located on a 6.23 acre lot at 10 Advantage Court, Sacramento, adjacent to Interstate 5 in Natomas Crossing. With 50 patient beds, the new inpatient rehabilitation hospital is expected to bring upwards of 150 new skilled jobs to the community. Vibra is in the process of submitting a formal land development application to the City of Sacramento and expects that it will be approved in early 2018. Construction on the 59,506 square foot facility is scheduled to begin in early 2019.
The new inpatient rehabilitation hospital will provide treatment for patients with a number of neurological injuries and diseases, such as Multiple Sclerosis, Parkinson’s, stroke, traumatic brain injury, and spinal cord injury. This hospital will also provide care for individuals with amputations, arthritis, and orthopedic needs, including hip fractures, joint replacements, and osteoporosis. “Our model focuses on the individual needs of each patient, with a goal of restoring them back to their highest possible functional ability and returning to home,” stated Michael Long, Division President of Vibra’s rehabilitation division.
The services provided by the new inpatient rehabilitation hospital will help address the post-acute care needs of the community and will also complement the services currently provided by Vibra’s nearby long-term acute care hospital (LTACH) located in Folsom, CA. “This new free-standing rehabilitation hospital located just 10 minutes from downtown Sacramento, in addition to our existing 60 bed LTACH, Vibra Hospital of Sacramento, will provide the greater Sacramento community excellent options for post-acute care hospital services for both rehabilitation and post-ICU care,” stated Ann Gors, Division President of Vibra’s LTACH division.
Brad Hollinger, Chairman and Chief Executive Officer of Vibra Healthcare added: “We are looking forward to meeting the medical rehabilitation needs of the greater Sacramento community. Our specially designed, state-of-the-art inpatient medical rehabilitation hospital will offer the most advanced equipment, clinical services, and therapeutic care available. We are eager to contribute to the community in a meaningful way, with a goal of facilitating the recovery process after a debilitating injury or illness and restoring our patients back to health.”
About Vibra Healthcare
Vibra Healthcare, LLC is a post-acute care provider based in Mechanicsburg, PA that is focused on the development, acquisition, and operation of freestanding specialty acute care hospitals, medical rehabilitation hospitals, and outpatient physical rehabilitation centers. Teams of highly trained specialists lead clinical programs at Vibra’s specialty hospitals for rehabilitating patients who suffer from strokes, multiple traumas, major orthopedic, neurologic, cardiac, and respiratory conditions. Vibra and its affiliates currently employ over 6,000 employees and own and operate 45 specialty hospitals, transitional care units/facilities, and hospital-based outpatient physical therapy locations in 14 states. For additional information about Vibra Healthcare’s network of specialty hospitals and post-acute care continuum, please visit our website at www.vibrahealthcare.com.
Vibra Healthcare, LLC Contact:
Diane Pierce
Executive Vice President Business Development
Office: 717-591-5780
Mavis Huber
After testing positive for the virus, Mavis spent three months in the hospital, battling respiratory failure due to COVID-19 pneumonia. Then she transferred to Vibra Hospital of Fargo to begin her recovery.