Vibra Healthcare, a speciality hospital provider based in Mechanicsburg, Pennsylvania, has completed the purchase of two hospitals from Kindred Healthcare, a diversified provider of post-acute care services, for $20.7m.

The two hospitals are outside of Kindred’s 21 designated Integrated Care Markets and are located in Milwaukee, Wisconsin, and Victoria, Texas.

The two hospitals will be operated by Post Acute Medical of Camp Hill, Pennsylvania, an affiliate of Vibra Healthcare.

Earlier in September 2013, Vibra Healthcare completed the purchase of 14 speciality hospitals and facilities from Kindred for $168.5m.

Vibra Healthcare founder, chairman and CEO Brad Hollinger said that the 16 newly acquired hospitals and facilities have joined the company’s post-acute care network, creating synergy in markets that expand its ability to meet and deliver the growing post-acute care needs of its patients.

"Additionally, with this acquisition, we are confident that our long-term strategic operations, clinical and development objectives will be met while immediately adding growth and value to the company," Hollinger added.

"With this acquisition, we are confident that our long-term strategic operations, clinical and development objectives will be met while immediately adding growth and value to the company."

The 16 facilities purchased by Vibra Healthcare consist of 14 long-term acute care hospitals containing 1,002 licensed beds, one inpatient rehabilitation facility containing 44 licensed beds and one skilled nursing facility containing 135 licensed beds.

Kindred Healthcare CEO Paul J Diaz said the proceeds from the sales have significantly advanced the company’s repositioning strategy, strengthened its financial position and allowed it to focus more on its Integrated Care Markets.

"We expect the $180m in after-tax proceeds will be deployed quickly to grow future earnings and will provide additional capital to invest in our new Care Management Division, including Kindred at Home," Diaz added.

With the completion of its planned acquisitions with Kindred, Vibra has increased its licensed beds to 2,919.

Vibra Healthcare and its affiliates currently employ over 9,300 employees and own and operate over 90 speciality hospitals, transitional care units/facilities and hospital-based outpatient physical therapy locations in 18 states in the US.