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UPDATE: HealthSouth Announces Preliminary Results Of Tender Offer


HealthSouth Corporation (NYSE: HLS) today announced the preliminary results of its previously announced "modified Dutch auction" tender offer, which expired at 12:00 midnight New York City time, at the end of Tuesday, March 19, 2013.

Based on the preliminary count by Computershare, Inc., the depositary for the tender offer, 9,119,450 shares were validly tendered at or below the final purchase price of $25.50 per share and not properly withdrawn.

In accordance with the terms and conditions of the tender offer, and based on the preliminary count by the depositary, the Company expects to purchase approximately 9.1 million shares at a price of $25.50 per share, for a total cost of approximately $232.1 million (excluding fees and expenses relating to the tender offer).

The number of shares the Company expects to purchase in the tender represents approximately 9.5% of its common stock outstanding as of February 19, 2013, the last full trading day prior to the commencement of the tender offer. Based on preliminary results of the tender offer, the Company expects to have approximately 87.3 million shares of common stock outstanding immediately following payment for the shares purchased in the tender offer.

The number of shares to be purchased and the price per share under the tender offer are preliminary and may change based on the final confirmed numbers from the depositary. Final results will be announced within three business days. Payment for the shares accepted for purchase will commence promptly thereafter.

Questions and requests for information about the tender offer should be directed to the information agent for the offer, Georgeson, Inc. toll-free at 800-248-3170 or 212-440-9800 (call collect) in the United States and Canada or (for banks and brokers) to J.P. Morgan Securities LLC toll-free at 877-371-5947.

About HealthSouth

HealthSouth is the nation's largest owner and operator of inpatient rehabilitation hospitals in terms of patients treated and discharged, revenues, and number of hospitals. Operating in 27 states across the country and in Puerto Rico, HealthSouth serves patients through its network of inpatient rehabilitation hospitals, outpatient rehabilitation satellite clinics and home health agencies. HealthSouth's hospitals provide a higher level of rehabilitative care to patients who are recovering from conditions such as stroke and other neurological disorders, orthopedic, cardiac and pulmonary conditions, brain and spinal cord injuries, and amputations. HealthSouth can be found on the Web at

Posted-In: News Financing


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