Select Medical Acquires Curahealth Tucson, a 51-bed Acute Care Facility for $2.25 Million

TUCSON, ARIZONA — Select Medical Corporation announced a handful of new acquisitions and joint venture partnerships that will add seven long-term acute care hospitals and eight outpatient clinics to its already impressive collection of post-acute care facilities.

The majority of Select Medical’s new hospitals will come from a newly announced agreement to acquire Acuity Healthcare, which owns and operates four long-term acute care hospitals and one satellite in New Jersey and West Virginia. Included in the package is also new joint venture partnerships with AtlantiCare, Mon Health, Virtua Health and Acuity’s physician partners.

The remaining hospitals come from two additional joint venture deals with Community Health Systems subsidiary Northwest Healthcare and Ascension Saint Thomas.

With Northwest Healthcare, Select Medical acquired and will be relocating Curahealth Tucson, a 51-bed long-term acute care hospital at 355 N Wilmot Road in Tucson. According to public records, the asset sold for $2.25 million ($58 PSF) on July 6th.

The two-story building, totaling ±38,846 square feet, was constructed in 1969 and renovated in 1993.​ The building was previously occupied by Curahealth, as a long-term acute care hospital with 51 beds contained in 25 double rooms and 1 single room.​ The property also features physical therapy rooms, operating rooms, radiology, administrative offices, and a commercial kitchen and dining hall.​ Located directly across from St.​ Joseph’s Hospital, a 486-bed premiere medical campus, which is home to the Carondelet Neurological Institute and the Carondelet Joint Replacement Center.​

Colliers’ of Phoenix, Todd Noel and Kyle Campbell, handled the sale and now has the leasing assignment for the property.

“We are excited to embark on these new joint ventures and acquisitions to bring world-class post-acute care to both existing and new markets across the country,” David Chernow, president and CEO of Select Medical, said in a statement. “These deals underscore the focus and success of our strategic growth model to expand our continuum of care through partnerships with premier health care systems that share our mission to deliver the highest level of clinical and operational excellence to the patients, families and communities our hospitals serve.”

Select Medical is one of the largest operators of post-acute care facilities in the U.S. The Pennsylvania-based company employed over 48,000 people and operated 99 critical illness recovery hospitals, 30 rehabilitation hospitals and 1,809 outpatient rehabilitation clinics as of March 31.

A publicly traded company, it reported a 9.3% revenue increase to about $1.5 billion for its first quarter of 2021 as well as a 1.4% revenue increase to more than $5.5 billion for the full year of 2020.

For more information, Noel should be reached at 602.222.5190 and Campbell is at 602.222.5062.

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