Kindred Healthcare buys home health services co
Kindred Healthcare Inc has bought California home health services company for $2 million in cash.
The acquisition will allow Kindred to expand its operations in the Los Angeles market that currently includes one nursing and rehabilitation center, nine transitional care hospitals, one hospital-based sub-acute unit, three home health care locations and three hospital-based acute rehabilitation units operated by the company’s Rehab Care division.
Kindred CEO Paul Diaz said, “We look forward to finding additional opportunities to expand our home care and hospice services in 2013.” Mr. Diaz also said, “We believe that the further expansion of our continuum of post acute care services in our key integrated care markets supports the growing interest among patients, physicians, hospital systems and public and private payors for high-quality, patient-centered integrated care.”
As per the earnings report of Kindred, the revenue from Kindred’s home health and hospice division has risen sharply recently. The revenue from the division has risen from $8 million in the first quarter of 2011 to $35 million during the third quarter of this year.
The Homecare Advantage acquisition follows Kindred’s buy in September of IntegraCare Holdings Inc, which provides home-health and hospice services at 47 locations in Texas.
Kindred Healthcare has also announced plans in November, to develop transitional care centers in Indianapolis and Las Vegas. It has also opened a transitional care hospital in Dayton, Ohio, with another Charleston, S.C. which will open soon.
Kindred Healthcare is a healthcare services firm that operates nursing centers, hospitals and a contract rehabilitation services business.