April 23, 2007—On April 19, HealthSouth Corp, Birmingham, Ala, announced a definitive agreement to sell its Diagnostic Division to The Gores Group LLC, Los Angeles, for approximately $47.5 million. HealthSouth’s Diagnostic Division is comprised of 54 freestanding diagnostic imaging centers in 19 states and Washington, DC; 80% of these are multi-modality facilities.
“The Gores Group is excited about the strength of the Diagnostic Division’s platform and geographic footprint, creating numerous opportunities for expansion within the imaging industry,” said Ryan Wald, managing director of The Gores Group. “The Diagnostic Division’s existing infrastructure, coupled with Gores’ financial support, will allow for accelerated growth through state-of-the-art imaging equipment and superior patient care.”
Operations of the division will remain headquartered in Birmingham. The acquisition is expected to close by Q307.