Kindred Healthcare Announces Additional Integrated Care Market Development Plans and New Hospital Openings
LOUISVILLE, Ky.–(Nov. 12, 2012) — Kindred Healthcare (NYSE:KND) today announced the planned development of two new transitional care centers in Indianapolis and Las Vegas, the opening of a transitional care hospital in Dayton, Ohio, and the planned opening of a transitional care hospital in Charleston, S.C.
Transitional care centers in Indianapolis and Las Vegas
Kindred intends to open a new 100-bed transitional care center (licensed for skilled nursing care) in Indianapolis on a site adjacent to St. Francis Health Indianapolis Campus. The transitional care center will specialize in intensive short-term rehabilitation therapy, including cardiac and orthopedic rehabilitation. Pending certain regulatory approvals, the company anticipates groundbreaking in the first quarter of 2013 and opening in the first quarter of 2014.
In the Indianapolis market, Kindred currently operates two transitional care hospitals (licensed as long-term acute-care hospitals), seven nursing and rehabilitation centers, one hospice and home health location, and through its RehabCare division one hospital based acute rehabilitation unit.
The company also plans to open a new 150-bed transitional care center in Las Vegas on a site adjacent to Universal Health Services Inc.’s Spring Valley Hospital Medical Center. The transitional care center will specialize in intensive short-term rehabilitation therapy, including cardiac, pulmonary and orthopedic rehabilitation. Pending certain regulatory approvals, the company anticipates groundbreaking in the first quarter of 2013 and opening in the first quarter of 2014.
In the Las Vegas market, Kindred currently operates three Transitional Care Hospitals, two nursing and rehabilitation centers, one co-located hospital based sub-acute unit, and two hospice, home care and private duty locations.
Hospitals in Dayton and Charleston
Kindred has opened a new and expanded 67-bed transitional care hospital in Dayton. The new Kindred Hospital Dayton has all private rooms and services such as an expanded intensive care unit, expanded radiology department with CT scanner and therapy gym. The Company plans to open a co-located sub-acute unit in the future, pending regulatory approvals. In the Dayton market, in addition to Kindred Hospital Dayton, the Company operates one hospice location.
The company also plans to open a new and expanded 59-bed transitional care hospital in Charleston later this quarter, pending regulatory approvals. The new freestanding hospital will have all private rooms and services such as an intensive care unit, therapy gym and dialysis unit. In addition, the relocated Kindred Hospital Charleston will have a 35-bed co-located sub-acute unit. In South Carolina, in addition to Kindred Hospital Charleston, the company operates one acute rehabilitation unit.
Management commentary
“These projects reflect our commitment to growing the company and pursuing our Integrated Care Market and “Continue the Care” initiatives,” said CEO Paul J. Diaz. “Our strategic plan is to build the capabilities to provide a full continuum of post-acute services in selective markets throughout the country. We believe that our integrated care market strategy better clinically supports a patient’s recovery through a full episode of care and responds to the growing interest among patients, physicians, hospital systems and public and private payors for high-quality, patient-centered integrated care.”
New Investor Presentation
In advance of the company’s previously announced presentations at two upcoming investor conferences on Nov. 14, 2012, the company posted a new investor presentation on its website by 12 noon Eastern Time today at http://investors.kindredhealthcare.com. The Lazard Capital Markets presentation is being audio webcast and can be accessed at http://investors.kindredhealthcare.com and at http://wsw.com/webcast/lz13/knd. The Credit Suisse presentation is being audio webcast and can be accessed at http://investors.kindredhealthcare.com and at http://cc.talkpoint.com/cred001/111412a_am/?entity=18_DBG10V5.
Kindred Healthcare, a top-125 private employer in the United States, is a FORTUNE 500 healthcare services company based in Louisville, Ky., with annual revenues of $6 billion and approximately 78,000 employees in 46 states. At September 30, 2012, Kindred through its subsidiaries provided healthcare services in 2,212 locations, including 117 transitional care hospitals, six inpatient rehabilitation hospitals, 224 nursing and rehabilitation centers, 27 sub-acute units, 102 hospice, home care and private duty locations, 104 inpatient rehabilitation units (hospital-based) and a contract rehabilitation services business, RehabCare, which served 1,632 non-affiliated facilities. Ranked as one of Fortune magazine’s Most Admired Healthcare Companies for four 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.
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