News | March 25, 2007

HealthSouth Sells Surgery Division for $945 Million

March 26, 2007 - HealthSouth Corporation announced today an agreement to sell its Surgery Division to TPG for approximately $945 million, the transaction is expected to be completed in the third quarter 2007 and is subject to customary closing conditions, including regulatory approval.

The purchase price consists of cash consideration of approximately $920 million and an equity interest whereby HealthSouth has the opportunity to participate in the future success of the newly-formed company. This future consideration is estimated to be worth $25 - $30 million assuming a five-year horizon.

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