© 2024 Louisville Public Media

Public Files:
89.3 WFPL · 90.5 WUOL-FM · 91.9 WFPK

For assistance accessing our public files, please contact info@lpm.org or call 502-814-6500
89.3 WFPL News | 90.5 WUOL Classical 91.9 WFPK Music | KyCIR Investigations
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations
Stream: News Music Classical

Kindred Healthcare Selling Long-term Care Hospitals

Jennifer Morrow/Creative Commons

Kindred Healthcare announced it has signed an agreement to sell 12 long-term acute care hospitals to Curahealth LLC for $27.5 million.
Kindred President and CEO Benjamin A. Breier said in a statement released Monday that the transaction creates both strategic and financial value for the Louisville-based health care giant. “We are pleased to announce this sale of 12 [long-term acute care] hospitals to Curahealth, as this transaction creates both strategic and financial value for Kindred," he said. "Optimizing our LTAC hospital portfolio is a key element of our LTAC criteria mitigation strategy, and this transaction is another important step forward in our efforts." The hospitals have 783 beds in six states: Arizona, Louisiana, Massachusetts, Oklahoma, Pennsylvania and Tennessee. Curahealth is an affiliate of a private investment fund sponsored by Nautic Partners. For the full fiscal year 2016, Kindred projects the hospitals will generate combined revenues of approximately $215 million. According to the statement, officials expect the deal with Curahealth to close in the third quarter of this year.

Can we count on your support?

Louisville Public Media depends on donations from members – generous people like you – for the majority of our funding. You can help make the next story possible with a donation of $10 or $20. We'll put your gift to work providing news and music for our diverse community.