US-based healthcare services company Kindred Healthcare has completed the acquisition of Centerre Healthcare for $195m.
In collaboration with leading acute care hospital systems through joint ventures, Centerre currently operates 11 inpatient rehabilitation hospitals with 612 beds.
Centerre is also constructing two additional facilities with a total of 90 beds, which are expected to open in 2015.
In addition, the hospital operator holds a pipeline of additional hospitals in various stages of development.
Kindred Healthcare president Benjamin Breier said: "We are pleased to acquire Centerre, which enhances Kindred’s strategy to collaborate with healthcare networks, managed care providers, and other health entities in local markets to best meet patient needs, reduce costs and improve clinical outcomes."
The deal is said to turn Kindred into one of the largest operators of inpatient rehabilitation hospitals in the US, which currently holds five inpatient rehabilitation hospitals and 102 hospital-based acute rehabilitation units under its RehabCare division.
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Combining the strengths of RehabCare, Kindred’s rehabilitation hospitals and Centerre, Kindred will establish a new business line, Kindred Hospital Rehabilitation Services.
The new business will carry out operations in 36 states in 384 locations, and it will run under the RehabCare division.
Kindred Healthcare CEO Paul Diaz said: "By adding Centerre’s locations to our current rehabilitation hospital portfolio, we build on our Continue the Care strategy and strengthen our mission of making recovery and a return to home and wellness possible for thousands of patients across America.
"This transaction also enhances our position as one of the nation’s premier providers of inpatient rehabilitation."