Kindred expands home health offering with acquisition
Kindred Healthcare, Inc., announced last week that it has acquired Professional HealthCare, LLC, a provider of home health, hospice, private nursing services and durable medical equipment, for $51 million in cash.
Professional HealthCare operates 27 locations in northern California, Arizona, Nevada and Utah that generate annualized revenues of $53 million, according to Kindred, which already operates 21 nursing and rehabilitation centers in Professional's service areas.
“We continue to seek opportunities to expand our continuum of post-acute care services in our key cluster markets in response to the growing interest for integrated care,” Kindred President and CEO Paul Diaz said in a statement. “Professional further expands our growing home health and hospice business and provides substantial overlap with our existing operations in several of our cluster markets.”
Kindred's Peoplefirst HomeCare and Hospice currently provides home health and hospice services in northern and southern California as well as Colorado, Indiana, Massachusetts and Ohio.