HealthSouth Corporation, based in Birmingham, Alabama, is the nation’s largest owner and operator of inpatient rehabilitative hospitals. Operating in 26 states across the country and in Puerto Rico, HealthSouth serves patients through its network of inpatient rehabilitation hospitals (99), outpatient rehabilitation satellite clinics (29) and home health agencies (25). 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 injury, and amputations.

HealthSouth was involved in a corporate accounting scandal in which its Chief Executive Officer, Richard M. Scrushy, was accused of directing company employees to falsely report grossly exaggerated company earnings in order to meet stockholder expectations.

At the company's height in 2003, it recorded nearly $4.5 billion in revenue, dominated the rehabilitation, surgery and diagnostic services market and employed more than 60,000 people at 2,000 facilities in every state of the U.S. along with its facilities in the United Kingdom, Canada, Australia, Puerto Rico and Saudi Arabia. The company was the largest publicly listed healthcare company in the United States based on the number of locations and the third based on revenue.

By mid to late 2006, HealthSouth, which never had to file for Chapter 11 Bankruptcy Protection, completed its recovery and relisted its stock on the New York Stock Exchange under the symbol HLS. The company currently operates one division: inpatient rehabilitation. The company formerly operated an outpatient rehabilitation, surgery center and diagnostics division. The company also previously owned and operated several acute care hospitals that specialized in orthopedics, but sold all of those hospitals by 2006. The former outpatient division also operated an occupational medicine division until 2001, when it was sold.

Read more about HealthSouth:  Company Beginnings, Growth, Accounting Scandal, Recovery and The New HealthSouth

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