LifeCare Hospitals Bought in Bankruptcy Sale for $33 Million

Bankrupt LifeCare Holdings LLC sold a number of its long-term acute care hospitals to different buyers for about $33 million, less amounts that the buyers will need to “cure,” or make whole, leases or contracts included in the sale.

PAM Squared LLC purchased most of the facilities for $29.5 million, less cure costs and certain accounts payable. PAM Squared purchased 10 facilities, located in Louisiana, Nevada, Ohio, Colorado, North Carolina, Texas, and Florida, according to the Aug. 19 bankruptcy court order approving the sale.

Select Medical Corp. purchased a Pittsburgh hospital for $3.5 million, less cure costs and other adjustments, ...