A Medical Device Daily

Vibra Healthcare (Mechanicsburg, Pennsylvania) reported completing the acquisition of Physicians Hospital (Portland, Oregon), an acute care hospital that Vibra will convert to a 60-bed Long Term Acute Care Hospital (LTACH).

The company said that Vibra Specialty Hospital of Portland will be the first LTACH in the state of Oregon.

The conversion is expected to be completed by March 2007 with the hospital opening planned for 2Q07. When fully operational, the hospital will employ more than 250 medical clinicians and support staff.

Financing for the acquisition was provided by Medical Properties Trust (MPT; Birmingham, Alabama), a healthcare real estate investment trust that has provided financing for Vibra on previous acquisitions.

LTACHs provide specialized acute and rehabilitative care to medically complex patients. These patients are critically ill or have multi-system complications or failures that require extended acute care treatment after their discharge from a traditional acute care hospital, typically from the intensive care unit.

With this latest acquisition, Vibra said it now operates 10 hospitals in 8 states, with 9 hospitals under development.

Medical Services International (MSI; Edmonton, Alberta) has agreed to sell a 25% interest in its resort in Anguilla BWI for an all cash transaction with real estate investors valued at $2.25 million.

Closing of the sale is expected to occur in October, and MSI said that it will use the funds for short and long term commitments related to the marketing of its VScan product line, a rapid test kit for the screening of HIV 1&2, hepatitis B&C, tuberculosis, Dengue fever, West Nile, syphilis, malaria and prostate cancer.

The company said it believes this that this sale will allow it to expand and implement its marketing plans related to the VScan products in Europe on a more aggressive timeline.