Kindred Healthcare Acquires In-Home Health Care Operations from the Arkansas Department of Health
August 01 2016 - 5:00PM
Business Wire
Kindred Healthcare, Inc. (“Kindred” or the “Company”) (NYSE:KND)
and the Arkansas Department of Health (“ADH”) today announced that
the parties have completed a previously announced agreement for
Kindred to acquire the in-home health care operations (the
“Agency”) from ADH, which includes licenses to provide home health,
hospice and personal care services throughout the state of
Arkansas, for approximately $39 million. Kindred reached an
agreement with ADH following a state bidding process.
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In the transaction, Kindred acquired the Agency’s licenses to
provide home health and personal care services in 69 counties and
hospice services in 42 counties. As part of the agreement, Kindred
agreed to retain all current employees and agreed to serve all
current patients upon consent. Including the home health and
hospice services that Kindred previously provided in Arkansas,
Kindred now provides in-home healthcare services in 72 of the
state’s 75 counties.
“We welcome the Agency’s caregivers to our team as we expand our
Kindred at Home operations in Arkansas,” said Benjamin A. Breier,
Kindred’s President and Chief Executive Officer. “We are excited to
build on the state’s program and look forward to bringing our care
and clinical protocols to these operations to improve the ability
of patients to safely return home or to remain in their home.”
“The Arkansas Department of Health is pleased to have completed
our agreement with Kindred on schedule, in order to assure
continuity of care for patients and a smooth transition for staff,”
said Nathaniel Smith, MD, MPH, Director of the Arkansas Department
of Health and State Health Officer. “I am happy to see these
services continue in Arkansas and am glad that our dedicated staff
will have a chance to keep providing these services.”
“I am pleased the transfer of services from the Arkansas
Department of Health’s In-Home Services program to Kindred
Healthcare has been completed,” said Asa Hutchinson, Governor of
Arkansas. “The sale’s finalization is a great next step for both
patients and employees of the program. I look forward to Kindred
Healthcare continuing the efforts of ADH in the private sector and
keeping patients connected to exceptional home health, hospice and
care services in Arkansas.”
About Kindred Healthcare
Kindred Healthcare, Inc., a top-90 private employer in the
United States, is a FORTUNE 500 healthcare services company based
in Louisville, Kentucky with annual revenues of approximately
$7.2 billion(1). At March 31, 2016, Kindred through its
subsidiaries had approximately 102,000 employees providing
healthcare services in 2,700 locations in 46 states, including 95
transitional care hospitals, 19 inpatient rehabilitation hospitals,
92 nursing centers, 20 sub-acute units, 618 Kindred at Home home
health, hospice and non-medical home care sites of service, 104
inpatient rehabilitation units (hospital-based) and a contract
rehabilitation services business, RehabCare, which served 1,752
non-affiliated sites of service. Ranked as one of Fortune
magazine’s Most Admired Healthcare Companies for seven years,
Kindred’s mission is to promote healing, provide hope, preserve
dignity and produce value for each patient, resident, family
member, customer, employee and shareholder we serve. For more
information, go to www.kindredhealthcare.com. You can also follow
us on Twitter and Facebook.
_______________
(1) Revenues based upon Kindred
consolidated revenues for the twelve months ended March 31,
2016.
About the Arkansas Department of Health
(ADH)
ADH is a centralized health department,
operating health units in each of the state’s 75 counties. ADH
works to protect, improve and promote the health of all Arkansans
with the support of dedicated employees and public and private
partners. Each year, Department employees monitor and investigate
public health diseases and threats, provide preventive health
services in clinical settings, enforce laws and regulations,
support Hometown Health Improvement, promote healthy behaviors and
respond to public health emergencies.
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version on businesswire.com: http://www.businesswire.com/news/home/20160801006178/en/
Kindred HealthcareSusan E. Moss, 502-596-7296Senior Vice
President,Marketing and
Communicationssusan.moss@kindred.comorArkansas Department of
HealthMeg Mirivel, MA, 501-280-4768Public Information OfficerOffice
of Health Communicationsmargaret.mirivel@arkansas.gov
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