Select Medical Holdings Corp announces it and its subsidiaries have entered a Stock Purchase Agreement and sold its contract therapy business to an affiliate of Encore Rehabilitation Services LLC for $65 million in cash.

According to a media release, Select Medical operates 109 long-term acute care hospitals and 18 acute medical rehabilitation hospitals in 28 states, and 1,038 outpatient rehabilitation clinics in 31 states and the District of Columbia.

Select Medical recently acquired Physiotherapy, a national provider of outpatient physical rehabilitation care with services including, general orthopedics, spinal care and neurological rehabilitation, as well as orthotics and prosthetics services, per the release.

For more information, visit Select Medical Holdings Corp.

[Source(s): Select Medical Holdings Corp, PR Newswire]