US-based Kindred Healthcare has acquired the equity of Professional HealthCare for $51m in cash.
Professional Healthcare provides home health, hospice, and private duty-nursing services, as well as durable medical equipment. It has operations in northern California, Arizona, Nevada and Utah.
Kindred Healthcare President and CEO Paul Diaz said that Professional Healthcare, previously a portfolio company of Mainsail Partners, further expands Kindred’s growing home health and hospice business, and provides substantial overlap with its existing operations.
”We continue to seek opportunities to expand our continuum of post-acute care services in our key cluster markets in response to the growing interest for integrated care,” Diaz said.
Kindred expects the transaction to be accretive to earnings in 2012.