US-based Select Rehabilitation has entered into a definitive agreement to acquire Kindred Healthcare’s RehabCare business for an undisclosed amount.
Kindred is a healthcare services firm with 1,731 locations across 46 states, as of 30 June 2020.
The company operates 94 hospital-based inpatient rehabilitation units, 64 long-term acute care hospitals, 22 inpatient rehabilitation hospitals, ten sub-acute units, contract rehabilitation service businesses and behavioural health services.
Following the divestiture of RehabCare, Kindred plans to focus on its specialty hospital operations.
Kindred Healthcare president and CEO Benjamin Breier said: “Select shares many of our core values and is led by a senior management team whose number one priority is doing what is best for the patients entrusted to their care.
“Together, Select and RehabCare will be poised to enhance the quality and breadth of their services to customers and to bring new professional and growth opportunities for our RehabCare team members.”
With the acquisition, Select expects to create a large-scale contract rehabilitation services provider.
The combined entity will cater to patients across 43 states in various care settings, including skilled nursing, assisted living and outpatient facilities. It will deliver patient-focused, outcomes-driven care.
Select Rehabilitation CEO and co-founder Anna Gardina Wolfe said: “Select’s acquisition of RehabCare presents exciting growth opportunities based on the companies’ shared cultural foundation of clinical excellence, quality care provision, and outstanding customer service.
“The addition of RehabCare’s management and therapy teams will solidify Select’s best-in-class reputation, while the expanded operations will position us to leverage our technology solutions beyond the contract therapy healthcare sector.”
Subject to customary conditions to closing, the acquisition is set to be completed this year.