HealthSouth continues restructuring

HealthSouth has agreed to sell its diagnostic division for $47.5 million, part of a long-term shift in its strategy which will focus the company on "post acute" care. The company is still recovering from the massive $2.7 billion accounting scandal, under which 15 executives were convicted of misconduct. The diagnostic division, which includes 54 freestanding diagnostic imaging centers in 19 states, to The Gores Group. The Gores Group is a private equity firm based in Los Angeles. Last month, HealthSouth sold its surgery division, taking in $945 million, and over the past year, has made $20.5 million selling off individual diagnostic centers, equipment and assets. These moves are designed to let HealthSouth transform itself into a provider focused on inpatient rehab services.

To learn more about the sale:
- read this Birmingham Business Journal article