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August 26, 2010

Kindred Healthcare to Buy Five US Hospitals

US-based Kindred Healthcare has announced that its subsidiaries have made a definitive agreement to acquire five long-term acute care hospitals in California and three nursing and rehabilitation centres in Texas. The five hospitals, which will be acquired from Vista Healthcare, have 25

By cms admin

US-based Kindred Healthcare has announced that its subsidiaries have made a definitive agreement to acquire five long-term acute care hospitals in California and three nursing and rehabilitation centres in Texas.

The five hospitals, which will be acquired from Vista Healthcare, have 250 beds between them and are valued at $180m.

The three nursing and rehabilitation centres are being acquired for $38m from an unnamed seller. Kindred plans to develop two of the three nursing centres into transitional care centres, and will add a transitional care unit to the third.

Kindred Healthcare presently operates six hospitals. It plans to finance these transactions with the proceeds of its revolving credit facility.

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