Press Releases

WASHINGTON, D.C. – (September 15, 2005)

Specialty Hospitals of America, LLC, (SHA), a health care management corporation based in New Hampshire, recently began the Certificate of Need (CON) process to acquire Capitol Hill Hospital & Nursing Center, 700 Constitution Ave in Washington, DC.

The process is expected to take between 30 and 60 days and is a mandated procedure within the District of Columbia.

Recently founded, SHA’s vision is to provide high acuity, focused centers of medical excellence in all of its owned and operated hospitals and nursing facilities.

With over 30 years of experience in the areas of hospital operation, health care development, quality care improvement, company growth and finance, SHA’s board of directors provides a stable and comprehensive approach to hospital management. Board members include:

• Chairman:
  James W. Rappaport offers nearly 30 years of experience as an attorney, real estate developer and entrepreneur. His passion for politics has led him into the public eye throughout Massachusetts and nationally. He is most notably recognized for his work in raising funds for such noble organizations as children’s hospitals, cancer institutes, the United Way, museums and schools.
  
  Rappaport is also vice chairman of The New Boston Fund, and member of the Boards for both Children’s Hospital Boston and the Dana Farber Cancer Institute in Boston, Mass.
  
• Co-Founder, President and Chief Operations Officer:
  Eric F. Rieseberg, certified by the American College for Healthcare Executives, provides over 30 years of expertise
  in hospital development and health care multi-site management. He has served as hospital CEO for several health care systems, and directed quality improvement and financial stabilization programs throughout the United States.
  
• Co-Founder and Chief Investment Officer:
  Robert E. Rummler, Sr. has over 35 years of investment banking, strategic financial planning and entrepreneurial experience. He has extensive background in financial turn around, mergers and acquisitions, and has played a key role in several business start-ups.
  
• Co-Founder and Chief Development Officer:
  Frank Wilich provides aptitude in leadership in the market-driven hospital environment. He has a talent for discovering patient-care opportunities where SHA can grow to the mutual benefit of patients, doctors and staff, as well as the community and investors. He has over 25 years of experience in the areas of management, development and marketing.

Upon approval of the Certificate of Need, SHA’s vision for the Capital Hill facility involves initiating Joint Commission Accreditation of Healthcare Organization (JCAHO) certification, accelerating the transition of the hospital’s services to provide long-term acute care and improve upon the clinical and financial aspects of the hospital operations. Specialty Hospitals of America will also bring with it the necessary capitol to purchase much needed equipment. Rieseberg, a native Washingtonian, will be relocating to the area to oversee the transition.

Updates on the CON process will be periodically provided throughout the review period, as well as information on the transition to SHA management upon approval.