Last year Kindred purchased RehabCare and now we have another company purchased that offers state of the art care for seniors, assisted senior living so making money off retirement continues to grow for investors. In particular the website focuses on centers where those with Alzheimer's can live as well as regular nursing homes. Maybe is this better to have a hospital run these types of facilities? Could be as nursing homes run by PE firms has drawn a lot of fire and attention over the last few years. At any rate some PE folks are cashing in here. BD
Kindred Healthcare To Acquire RehabCare for $900 Million Creating the Largest Post Acute Care Conglomerate in the US
Kindred has revenues of $6 billion annually. BD
From the website:
”At June 30, 2012, Kindred through its subsidiaries provided healthcare services in 2,154 locations, including 118 long-term acute care hospitals, six inpatient rehabilitation hospitals, 224 nursing and rehabilitation centers, 27 sub-acute units, 52 hospice and home care locations, 102 inpatient rehabilitation units (hospital-based) and a contract rehabilitation services business, RehabCare, which served 1,625 non-affiliated facilities”
Hospital operator Kindred Healthcare Inc. will buy privately held IntegraCare Holdings Inc. for $71 million in cash to expand its home health and hospice business in Texas, Reuters wrote Tuesday. IntegraCare’s current owner private equity firm Flexpoint Ford LLC could earn an additional $4 million in cash based on the company’s 2013 earnings.
(Reuters) – Hospital operator Kindred Healthcare Inc (KND.N) will buy privately held IntegraCare Holdings Inc for $71 million in cash to expand its home health and hospice business in Texas.
IntegraCare’s current owner private equity firm Flexpoint Ford LLC could earn an additional $4 million in cash based on the company’s 2013 earnings.