LOUISVILLE, Ky.--(BUSINESS WIRE)-- Kindred Healthcare, Inc. (“Kindred”) (NYSE: KND) today announced plans for the expansion and replacement of two Long-Term Acute Care (“LTAC”) hospitals, the opening of a new Transitional Care Center and three hospital-based subacute units in several of its key markets. Kindred also acquired the real estate of a previously leased hospital in Richmond, Virginia. Once completed, these projects will expand Kindred’s capacity to grow and provide a continuum of post-acute care in a number of key Cluster Markets.
Charleston, South Carolina
Kindred has signed a definitive agreement to acquire property to relocate its existing Kindred Hospital Charleston. The new freestanding hospital will have more private rooms, be better equipped and have approximately 125,000 square feet of space compared with the current 16,000 square foot hospital. The relocated Kindred Hospital Charleston will have 59 LTAC hospital beds, the same as in the current location, and will also have a 35 bed co-located subacute unit. Kindred expects to complete the property acquisition in July 2011 and move to its new location in the second quarter of 2012. In South Carolina, Kindred currently operates one LTAC hospital and, through its RehabCare division, operates two hospital-based acute rehabilitation units (“ARU”).
Dayton, Ohio
Kindred has signed a definitive agreement to acquire property to relocate its existing Kindred Hospital Dayton. The new freestanding hospital will have 67 LTAC hospital beds, the same as in the current hospital. Kindred plans to acquire 37 skilled nursing beds and create a co-located subacute unit at Kindred Hospital Dayton, pending regulatory approvals and other agreements. The new hospital will have more private rooms, be better equipped and have approximately 132,000 square feet of space compared with approximately 30,000 square feet currently. Kindred expects to complete the property acquisition in August 2011 and move to its new location in the second quarter of 2012. In Dayton, Kindred currently operates one LTAC hospital and one hospice location.
Richmond, Virginia
Kindred purchased the previously leased real estate of Kindred Hospital Richmond in Richmond. Kindred Hospital Richmond is a 60 bed freestanding LTAC hospital. In addition to Kindred Hospital Richmond, Kindred currently operates four nursing and rehabilitation centers and one ARU in Virginia.
Indianapolis, Indiana
Kindred opened a newly constructed 120 bed Transitional Care Center (licensed for skilled nursing care) in Westfield, Indiana, north of Indianapolis. Kindred Transitional Care and Rehabilitation Center – Bridgewater specializes in intensive short-term rehabilitation therapy. In addition to Bridgewater, Kindred currently operates two LTAC hospitals, six nursing and rehabilitation centers, one ARU and one hospice location in the Indianapolis market.
Seattle, Washington
Kindred opened a 30 bed co-located hospital-based subacute unit in its Kindred Hospital Seattle – Northgate. Kindred is also converting a previously closed nursing and rehabilitation center in downtown Seattle into a 50 bed freestanding LTAC hospital to be renamed Kindred Hospital Seattle – First Hill that also will include a 30 bed co-located hospital-based subacute unit. Kindred expects to open this facility by the fourth quarter of 2011 after completion of renovations and the receipt of certain regulatory approvals. Additionally, in the Seattle market, Kindred currently operates four nursing and rehabilitation centers and one ARU.
Dallas, Texas
Kindred opened a 36 bed co-located hospital-based subacute unit in its existing Kindred Hospital Dallas. In addition, Kindred operates seven LTAC hospitals, one inpatient rehabilitation hospital, and three nursing and rehabilitation centers in the Dallas-Fort Worth market.
Kindred’s co-located hospital-based subacute units are licensed as skilled nursing facilities and provide inpatient care to those individuals who can be discharged from a short-term acute care hospital or an LTAC hospital, but require additional comprehensive, complex care and rehabilitative services to help them recover and return home. Kindred currently operates nine hospital-based subacute units in nine states.
“We are committed to continuing to develop high quality, cost-effective healthcare services in markets that we believe can benefit from the continuum of services Kindred provides and the opportunity for us to “Continue the Care” for our patients and residents through an entire episode of treatment and recovery,” said Paul J. Diaz, President and Chief Executive Officer of Kindred.
About Kindred Healthcare
Kindred Healthcare, Inc., a top-150 private employer in the United States, is a healthcare services company based in Louisville, Kentucky with annual revenues of $6 billion and approximately 76,000 employees in 46 states. On June 1, 2011, Kindred through its subsidiaries provided healthcare services in over 2,000 locations, including 121 long-term acute care hospitals, five inpatient rehabilitation hospitals, 224 nursing and rehabilitation centers, 113 inpatient rehabilitation units (primarily hospital-based) and a contract rehabilitation services business, RehabCare, which served approximately 1,560 non-affiliated facilities. Ranked as one of Fortune magazine’s Most Admired Healthcare Companies for three years in a row, 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.
CONTACT:
Kindred Healthcare, Inc.
Susan E. Moss, 502-596-7296
Vice President, Communications
KEYWORDS: United States North America Kentucky
INDUSTRY KEYWORDS: Health Hospitals Other Health
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