Kindred Healthcare Inc. (NYSE:KND) reported 2% revenue growth in the first quarter ended March 31, 2014 boosted by newly acquired home care businesses along with improved margins in its rehabilitation and nursing care divisions. Consolidated revenues for the first quarter increased 2% to $1.3 billion compared to last year. Income from continuing operations grew to $16.8 […]
Kindred Healthcare
The former chief executive officer of Louisville, Ky.-based HealthEssentials Solutions and co-founder of Kindred Healthcare Inc., has resolved allegations of Medicare fraud related to HealthEssentials reimbursement claims by agreeing to a $1 million settlement. The Justice Department accused Michael R. Barr, who along with W. Bruce Lunsford co-founded the post-acute care company that’s now known […]
Kindred Healthcare, Inc. (NYSE:KND) announced on Tuesday the closing of its previously announced, $95 million acquisition of Senior Home Care, Inc. The transaction was financed with Kindred’s operating cash flows and proceeds from a revolving credit facility. Senior Home Care, a home health provider with 47 locations in Florida and Louisiana, currently generates annualized revenues […]
Kindred Healthcare, Inc. has agreed to acquire Synergy Home Care, a home health care provider that operates in 17 locations throughout Louisiana, as part of its overall acquisition of Senior Home Care. Details of the transaction, which is expected to close in the fourth quarter of 2013 pending regulatory approvals, were not disclosed. The pending […]
Kindred Healthcare (NYSE: KND) announced this week it is shoring up its lending channels in order to improve its financial flexibility with an eye toward future acquisitions. The company has amended its $750 million senior secured asset-based revolving credit line and its $785.5 million senior secured term loan facility, including an elimination of annual and cumulative limitations […]
Home health and hospice revenues jumped 84% for Kindred Healthcare in the second quarter ended June 30, 2013 from last year, helping to offset the company’s overall revenue and operating income declines. Consolidated revenues decreased by 1% to $141 billion, in part due to federal sequestration cuts of 2% to Medicare reimbursement rates, which resulted […]
Kindred Healthcare (NYSE: KND) longtime Chief Financial Officer Richard Lechleiter announced today he will retire from the company effective January 2014. The company has not named a replacement but says it will be conducting a national search for a new CFO. Lechleiter has been with the company since 1995 and has served as CFO for more […]
Kindred Healthcare (NYSE: KND) announced this week it will acquire two home health agencies based in Phoenix and Virgina, further expanding its reach into home health care. The acquisitions come on the heels of Kindred’s sale of eight non-strategic nursing centers for $49 million to Kindred affiliates, the proceeds of which the company plans to […]
Kindred Healthcare, Inc. (NYSE:KND) announced that its subsidiary purchased Homecare Advantage for approximately $2 million in cash. Based in Los Angeles, California, Homecare Advantage provides services in the surrounding areas and generates revenues of approximately $2.5 million per year. The Homecare Advantage location will allow Kindred to expand its service area and operations in the […]
Flexpoint Ford, LLC, a private equity firm that focuses on the health care and financial services sectors, has completed the $71 million sale of IntegraCare Holdings, Inc. to Kindred Healthcare, Inc. The transaction includes a potential $4 million earn out based on 2013 earnings. IntegraCare, headquartered in Grapevine, Tex., is a Medicare and Medicaid certified […]
Subscribe
Receive industry updates and breaking news from HHCN