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Last updated 3:01AM ET
March 5, 2021
Alabama
Alabama
HealthSouth Finalizes Sale of Corporate Campus
(2008-04-01)
(APR - Alabama Public Radio ) - HealthSouth said it has completed the $43.5 million sale of its corporate campus to a real estate organization.

HealthSouth will remain in its headquarters under a long-term lease from Birmingham-based Daniel Corporation, which bought the campus for $43.5 million in cash and a 40 percent interest in an unfinished hospital building on the property.

The 103-acre property being sold consists of a 200,000-square-foot headquarters building and an unfinished 13-story structure, formerly called "Digital Hospital."

HealthSouth reorganized under new management after an accounting fraud scandal rocked the company in 2003.

Company President and CEO Jay Grinney said proceeds from the sale will be used to pay down part of the company's long-term debt and cut down operating expenses.

(Copyright 2008 by The Associated Press. All Rights Reserved.)
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