Kindred to Pay $218 Million for Hospitals, Nursing Homes
Louisville, KY-based Kindred Healthcare, Inc. announced plans to acquire five long-term acute care hospitals in Southern California, and three nursing homes in Dallas-Fort Worth in two separate cash deals totaling $218 million this week.
Kindred will pay $180 million to Rancho Cucamonga, CA-based Vista Healthcare, LLC, for the four freestanding hospitals and one hospital-in-hospital with a total of 250 beds. The assets generate annual revenues of approximately $150 million and earnings before interest, income taxes, depreciation and amortization of approximately $27 million.
"We view the Vista transaction as a great opportunity to meet the growing demand for our services in southern California and expand our hospital operations,” Kindred CEO Paul J. Diaz says. “The Vista hospitals also provide several clinical service offerings not currently available in our area hospitals providing us with an opportunity to expand our clinical services as well as attract more commercial and managed care business.”
Vista President/CEO Ara Tavitian, MD, says the combined strengths of the two companies “will promote expanded services and clinical programs that will better serve our patients and their families.
- Two-Midnight Rule Must be Fixed or Replaced, Say Providers
- The Secret to Physician Engagement? It's Not Better Pay
- Hospital Groups Strike Back at Hospital Rating Systems
- AHIP: Enormity of HIX Challenges Sinks In
- Don't Underestimate Emotional Intelligence
- 4 Reasons PCMH Principles Aren't Going Away
- Yale New Haven Health Partners with Tenet Healthcare in CT
- Evidence-Based Practice and Nursing Research: Avoiding Confusion
- Care Coordination Tough to Define, Measure
- SCOTUS Review of NC Board Case 'A Very Big Deal' to Providers