Seton Healthcare Family and Post Acute Medical
On behalf of Post Acute Medical (Enola, Pennsylvania), MedCore Partners successfully identified a market need for inpatient and outpatient rehabilitation services, facilitated a joint venture between Post Acute Medical and Seton Healthcare Family (Austin, TX), provided $1.5 million of working capital for the venture, and developed a 40-bed, $16,000,000 facility named the Warm Springs Rehabilitation Hospital of Kyle.
Post Acute Medical, a company that is focused on providing inpatient and outpatient physical rehabilitation, has engaged MedCore Partners to utilize its proprietary research and analytics platform in order to identify markets around the country that are underserved by post-acute rehabilitation service providers. Post Acute Medical has also requested that MedCore Partners help identify potential health system partners that the company can joint venture with to provide an integrated model of delivery for rehabilitation services.
In performing its intensive research, MedCore identified an area in central Texas, just south of Austin that significantly lacked necessary outpatient and inpatient rehab facilities. Recognizing that Seton is the dominant health system in that market, MedCore reached out to the organization in order to present its findings with respect to the gap in rehab services and to introduce the idea of partnering with Post Acute Medical.With interest from Seton, MedCore worked with Post Acute Medical to present a joint venture structure through a written proposal and a series of meetings that ultimately resulted in a partnership.MedCore then identified a land site directly across the street from Seton’s campus in Kyle, TX, which resides in the heart of the area of need. After successful negotiations, MedCore purchased the property, raised requisite working capital for the operations of the hospital, and procured the capital to develop the hospital complex.MedCore then successfully managed the design, entitlement, construction, and licensure processes through to completion.
The fully stabilized Warm Springs Rehabilitation Hospital of Kyle remains the only freestanding, licensed rehabilitation hospital of its kind in Kyle, Texas.The high level of care delivered by an integrated program defined by both Seton and Post Acute Medical incorporates specific protocols from The Joint Commission and is delivered by experienced staff and physicians focused on the maximum restoration of each patient’s life. The 55,000 square foot hospital features the most advanced rehabilitation technology, houses 40private rooms, a pharmacy, a lab, imaging capabilities, and an indoor heated salt water therapy pool. The medical staff consists of over 50 specialized consulting physicians and is led by Dr. Christopher Garrison with Seton Brain and Spine Physicians, a board certified physical medicine and rehabilitation physician.
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