Ohio-Based CommuniCare to Operate 16 Former Kindred SNFs
Large regional care provider CommuniCare has announced it will take over 16 of Kindred Healthcare’s (NYSE: KND) former skilled nursing facilities in Indiana.
The SNFs will provide rehab and holistic healing services, according to a press release. Current staffers are expected to remain in place during the transition.
With the latest acquisition, the Cincinnati, Ohio-based provider now operates 76 health care and rehabilitation centers in Indiana, Maryland, Missouri, Ohio, Pennsylvania, Virginia and West Virginia. The deal also boosts CommuniCare’s total capacity by about 2,000 beds.
“It’s fulfilling to be able to extend our reach, reflective of serving the growing healthcare needs of a growing population,” CommuniCare executive vice president Isaac Rosedale said in a statement. “Specific to the new health care operations in Indiana, we are committed to continuing the level of quality clinical care and strength of operations that Kindred has provided for years.”
Louisville, Ky.-based Kindred is in the process of exiting the skilled nursing industry completely: After agreeing to a $700 million deal to sell its SNF assets to BM Eagle Holdings in May, Kindred announced the first wave of dispositions late last week. BM Eagle, a joint venture run by affiliates of alternative asset management company BlueMountain Capital Management, has declined to disclose its plans for transitioning operators to Skilled Nursing News.
The deal’s terms were not disclosed, and neither Kindred nor CommuniCare returned requests for comment.
Written by Tim Regan