Select Medical Buys HealthSouth Outpatient Rehab

Select Medical Corp., a Mechanicsburgh, Pa.-based portfolio company of Welsh Carson Anderson & Stowe and Thoma Cressey Equity Partners, has agreed to acquire HealthSouth Corp.‘s Outpatient Rehabilitation division for approximately $245 million in cash. The division includes approximately 600 facilities in 35 states that provide rehab for general orthopedic and sports injuries.