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<p style=' margin-bottom:0pt; margin-top:4.5pt;text-align:center;'><B><font SIZE=5>UNITED STATES </font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=5>SECURITIES AND EXCHANGE COMMISSION </font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>WASHINGTON, DC 20549 </font></B></p>

<p style=' margin-bottom:0pt; margin-top:4.5pt;text-align:center;'><B><font SIZE=5>FORM 8-K</font></B></p>

<p style=' margin-bottom:0pt; margin-top:4.5pt;text-align:center;'><B><font SIZE=2>CURRENT REPORT</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934</font></b></p>

<p style=' margin-bottom:0pt; margin-top:4.5pt;text-align:center;'><b><font size=2>Date of Report (date of earliest event reported): March</font></b><font size=2>&nbsp;</font><b><font size=2>12, 2007</font></b></p>

<p style=' margin-bottom:0pt; margin-top:4.5pt;text-align:center;'><b><font size=6>HealthSouth Corporation</font></b></p>

<p style=' margin-bottom:0pt; margin-top:1.5pt;text-align:center;'><b><font size=1>(Exact Name of Registrant as Specified in its Charter) </font></b></p>

<p style=' margin-bottom:0pt; margin-top:4.5pt;text-align:center;'><b><font size=2>Delaware</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=1>(State or Other Jurisdiction of Incorporation)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=1>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>001-10315</font></b></p> </td>
        <td width="335" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>63-0860407</font></b></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>(Commission File Number)</font></b></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>(I.R.S. Employer</font></b><br> <b><font size=1>Identification No.)</font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:4.5pt;text-align:center;'><b><font size=2>One HealthSouth Parkway, Birmingham, Alabama 35243</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=1>(Address of Principal Executive Officers, Including Zip Code) </font></b></p>

<p style=' margin-bottom:0pt; margin-top:4.5pt;text-align:center;'><b><font size=2>(205)</font></b><font size=2>&nbsp;</font><b><font size=2>967-7116</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=1>(Registrant&#146;s telephone number) </font></b></p>

<p style=' margin-bottom:12pt; margin-top:12pt;text-align:left;'><font size=2>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><B><font SIZE=2>ITEM 1.01. </font></B><i><b><font size=2>Entry</font></b></i><b><font size=2> </font></b><i><b><font size=2>into a Material Definitive Agreement</font></b></i><b><font size=2>.</font></b></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>On March&nbsp;12, 2007, HealthSouth Corporation (the &#147;Company&#148;) announced it had amended its existing Senior Secured Credit Facilities to lower the applicable interest rates and modify certain other covenants. The amendment and related supplement reduce the interest rate on the Term Loan B to LIBOR plus 2.5%, as well as reduce the applicable participation rate on the Tranche A letter of credit facility to 2.5%. The amendment also gives the Company the appropriate approvals for its divestiture activities. The foregoing description of the amendment and related supplement is not complete and is qualified in its entirety by reference to the text of the amendment and related supplement, copies of which are attached as Exhibits 99.2 and 99.3 and are incorporated herein by reference. A copy of the applicable press release announcing said amendment is attached as Exhibit 99.1 and is
incorporated herein by reference.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><B><font SIZE=2>ITEM 9.01. </font></B><i><b><font size=2>Financial Statements and Exhibits</font></b></i></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(d)</font></p> </td>
        <td width="65" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Exhibits</font></p> </td> </tr></table>
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<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><font size=2>See Exhibit Index.</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SIGNATURES </font></B></p>

<p style=' margin-bottom:0pt; margin-top:9pt; text-indent:0.34in;text-align:left;'><font size=2>Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:12.0pt;text-indent:-12.0pt'><font SIZE=2>H</font><font SIZE=1>EALTH</font><font SIZE=2>S</font><font SIZE=1>OUTH</font><font size=2> C</font><font SIZE=1>ORPORATION</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="575" style='height:9.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
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            <p style='margin-left:12.0pt;text-indent:-12.0pt'><font size=2>By:</font>   </p> </td>
        <td width="575" valign=top style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>/s/&nbsp;&nbsp;&nbsp;&nbsp;John P. Whittington</font><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Name:&nbsp;&nbsp;&nbsp;&nbsp;John P. Whittington</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:34.55pt;text-indent:-34.55pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executive Vice President, General Counsel, and Corporate Secretary</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><font size=2>Dated: March&nbsp;14, 2007</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>EXHIBIT INDEX</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:5.0pt;margin-bottom: 5.0pt'><u><font size=2>Exhibit Number</font></u><u></u></p> </td>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:5.0pt;margin-bottom: 5.0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:5.0pt;margin-bottom: 5.0pt'><u><font size=2>Description</font></u><u></u></p> </td> </tr>
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            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:5.0pt;margin-bottom:5.0pt'><font size=2>99.1</font></p> </td>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:5.0pt;margin-bottom: 5.0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="520" valign=top >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:5.0pt;margin-bottom: 5.0pt'><font size=2>Press release of HealthSouth Corporation dated March&nbsp;12, 2007.</font></p> </td> </tr>
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            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:5.0pt;margin-bottom:5.0pt'><font size=2>99.2</font></p> </td>
        <td width="17" valign=bottom >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:5.0pt;margin-bottom: 5.0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="520" valign=top >
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:5.0pt;margin-bottom: 5.0pt'><font size=2>Amendment No. 1 dated as of March 1, 2007 to the Credit Agreement dated as of March 10, 2006 among HealthSouth Corporation, the lenders party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent and Collateral Agent, and the other parties thereto.</font></p> </td> </tr>
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            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:5.0pt;margin-bottom:5.0pt'><font size=2>99.3</font></p> </td>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:5.0pt;margin-bottom: 5.0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:5.0pt;margin-bottom: 5.0pt'><font size=2>Supplement dated as of March 7, 2007 to Amendment No. 1 dated as of March 1, 2007 to the Credit Agreement dated as of March 10, 2006 among HealthSouth Corporation, the lenders party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent and Collateral Agent, and the other parties thereto.</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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{"company-data": {"conformed-name": "HEALTHSOUTH CORP", "cik": "0000785161", "assigned-sic": "8093", "irs-number": "630860407", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-10315", "film-number": "07694371"}, "business-address": {"street1": "ONE HEALTHSOUTH PKWY", "street2": "STE 224W", "city": "BIRMINGHAM", "state": "AL", "zip": "35243", "phone": "2059677116"}, "mail-address": {"street1": "ONE HEALTHSOUTH PARKWAY", "city": "BIRMINGHAM", "state": "AL", "zip": "35243"}, "former-company": {"former-conformed-name": "HEALTHSOUTH REHABILITATION CORP", "date-changed": "19920703"}}
Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): March
12, 2007
HealthSouth Corporation
(Exact Name of Registrant as Specified in its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
001-10315
63-0860407
(Commission File Number)
(I.R.S. Employer
Identification No.)
One HealthSouth Parkway, Birmingham, Alabama 35243
(Address of Principal Executive Officers, Including Zip Code)
(205)
967-7116
(Registrant's telephone number)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01.
Entry
into a Material Definitive Agreement
.
On March 12, 2007, HealthSouth Corporation (the "Company") announced it had amended its existing Senior Secured Credit Facilities to lower the applicable interest rates and modify certain other covenants. The amendment and related supplement reduce the interest rate on the Term Loan B to LIBOR plus 2.5%, as well as reduce the applicable participation rate on the Tranche A letter of credit facility to 2.5%. The amendment also gives the Company the appropriate approvals for its divestiture activities. The foregoing description of the amendment and related supplement is not complete and is qualified in its entirety by reference to the text of the amendment and related supplement, copies of which are attached as Exhibits 99.2 and 99.3 and are incorporated herein by reference. A copy of the applicable press release announcing said amendment is attached as Exhibit 99.1 and is
incorporated herein by reference.
ITEM 9.01.
Financial Statements and Exhibits
(d)
Exhibits
See Exhibit Index.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
H
EALTH
S
OUTH
C
ORPORATION
By:
/s/    John P. Whittington
Name:    John P. Whittington
Title:     Executive Vice President, General Counsel, and Corporate Secretary
Dated: March 14, 2007
EXHIBIT INDEX
Exhibit Number
Description
99.1
Press release of HealthSouth Corporation dated March 12, 2007.
99.2
Amendment No. 1 dated as of March 1, 2007 to the Credit Agreement dated as of March 10, 2006 among HealthSouth Corporation, the lenders party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent and Collateral Agent, and the other parties thereto.
99.3
Supplement dated as of March 7, 2007 to Amendment No. 1 dated as of March 1, 2007 to the Credit Agreement dated as of March 10, 2006 among HealthSouth Corporation, the lenders party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent and Collateral Agent, and the other parties thereto.