As it attempts to recover from an accounting scandal, HealthSouth Corp. of Birmingham, Ala., has announced that it is exploring ways to reposition itself in the post-acute care sector. Some possibilities include the sale or spin off of the company’s surgery centers and its outpatient rehabilitation and diagnostic divisions. HealthSouth’s inpatient division accounts for most of its revenue: 58% of consolidated net operating revenues and 86 percent of operating earnings for the quarter that ended June 30, 2006. Jay Grinney, HealthSouth president and CEO, said in a statement that the outpatient, surgery, and diagnostic divisions “compete in sectors with good growth potential. However, we have concluded that there are very few strategic or financial synergies in operating these divisions as one company.”
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