Friday, March 31, 2017
Select Medical Corporation, a wholly-owned subsidiary of Select Medical Holdings Corporation, today announced a joint venture agreement with Riverside Health System to operate a long-term acute care hospital and an acute inpatient rehabilitation hospital in Newport News, Virginia. The agreement also includes the future construction of a new freestanding inpatient rehabilitation hospital in the region.
We are honored to partner with Eastern Virginia's flagship medical system to ensure its communities have access to exceptional long-term acute care and inpatient rehabilitation services, said Select Medical President and CEO David S. Chernow. Riverside Health System and Select Medical share a common mission to uniquely serve the needs of complex chronically ill and catastrophically injured patients. Our collective track record of quality and outcomes will position the joint venture as the top choice for all levels of care in the region.
Under the deal, Riverside Health remains the majority owner of the 50 bed Riverside Rehabilitation Institute. Select Medical will be the majority owner of the 25 bed long term acute care Hampton Roads Specialty Hospital and serve as managing partner of both hospitals. Upon the opening of the new inpatient rehabilitation facility, expected in early 2019, the long-term acute care hospital will relocate to Riverside Regional Medical Center.
Select Medical is the premier partner to provide essential services such as long-term acute care and inpatient rehabilitation within our nationally recognized system, said Bill Downey, president and CEO at Riverside Health System. We look forward to expanding our network and continuously improving safety, quality and outcomes for patients throughout our coastal communities – we call this the Riverside Care Difference.
