Rapides Healthcare System sells three area hospitals on Louisiana Medical News

Rapides Healthcare System sells three area hospitals

Sale of hospitals opens doors for future growth, healthcare opportunities ALEXANDRIA, La., March 26, 2009 – Rapides Healthcare System today announced the anticipated sale of three rural, Central Louisiana hospitals to Progressive Acute Care, L.L.C. The sale includes Avoyelles Hospital in Marksville; Oakdale Community Hospital in Oakdale; and Winn Parish Medical Center in Winnfield. Rapides Regional Medical Center in Alexandria is not part of the agreement. All of these facilities are located in rural markets – which is in contrast to the majority of HCA hospitals which are located in larger urban or suburban areas. RHS is 74 percent owned by HCA and 26 percent owned by The Rapides Foundation. The sale is expected to be finalized on March 31, 2009. “I am pleased that Progressive recognizes the state-of-the-art medical care and qualified, caring physicians each of these communities has to offer,” said David Williams, Rapides Healthcare System CEO. “We believe Progressive can focus necessary resources on these hospitals and allow them to successfully compete and give them the best opportunity for success in the future.” This purchase marks Progressive’s first expansion into the acute care hospital market. Until now, the company has specialized in Long Term Acute Care hospitals. “We look forward to continuing a close working relationship with each of these hospitals,” Williams said. “We also look forward to watching Progressive grow. “These three facilities are filled with caring, compassionate physicians and staff known for providing exceptional patient care. We want to thank them – and the communities they serve – for being patient with us throughout this process.” Progressive Acute Care’s management team has extensive experience in managing healthcare facilities with the intent of providing high quality, compassionate healthcare and a nurturing, fulfilling work environment for its associates. _______________________________________________________________________________________________________________ For more information, contact: Charla Ducote Vice President PR/Marketing/Business Development (318) 769-3157 Sarah Clancy Public Relations Coordinator (318) 769-3138 sarah.clancy@hcahealthcare.com