NME will build four rehabilitation hospitals.

Los Angeles-based National Medical Enterprises also said it has opened two other physical rehabilitation facilities under an expansion program estimated to cost more than $71.4 million. The new hospitals, which are to be built in Corpus Christi, El Paso and San Antonio, Tex., and Salt Lake City, will add a total of 348 new beds to NME’s Rehab Hospital Services Corp. subsidiary, which currently operates 13 institutions with a total of more than 1,300 beds. Meanwhile, Moody’s Investors Service placed NMI’s debt ratings under review for possible downgrade, citing the company’s proposed repurchase of up to 13% of its common shares.