The facility, named Sheltering Arms Rehab Institute, will combine the existing rehabilitation programs of both institutions. The organizations first proposed the collaboration in October.
Officials said they have filed a letter of intent with the Virginia Department of Health and declared plans to obtain a certificate of public need. Officials said they hope to submit the application to the DOH by the end of the month and expect a decision by mid-2017, according to the article.
The hospital is expected to open in 2020.
More articles on transactions and valuations:
DOD awards Medline 3 contracts for clinical products
WellCare Health Plans to buy Universal American for $600M
Fitch: Offshore, private equity firms buying into healthcare
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