Kindred Healthcare's subsidiary has acquired the assets of US-based home health services provider, Synergy Home Health Care.
The company used its operating cash flows and proceeds from its revolving credit facility to finance the transaction.
Kindred Healthcare president and CEO Paul Diaz said the transaction will allow the subsidiary to expand its home health and hospice business and its continuum of post-acute care services for patients and residents in several of the key cluster markets.
Synergy is a home health company serving the greater Boston, Massachusetts, market, with two locations in Marlborough and Weymouth, Massachusetts, which currently generate annual revenues of approximately $5 million.
Kindred currently operates 25 nursing and rehabilitation centres and five long-term acute care hospitals within Synergy's service areas.
Kindred provides hospice services in Massachusetts as well as in Arizona, California, Colorado, Indiana, Nevada, Ohio and Utah.