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.
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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.
