Kindred Healthcare Acquires Promise Hospital in Los Angeles to Expand Acute-Care Services.

MANews-(C)2009-2019

3 May 2019 - Kentucky, US-based healthcare services provider Kindred Healthcare, LLC has acquired Promise Hospital of East Los Angeles from Florida, US-based acute-care hospitals operator Promise Healthcare Group, LLC, the company said.

On February 21, 2019, Kindred was selected as the winning bidder for the hospital, which has been renamed Kindred Hospital Paramount.

Terms of the transaction were not disclosed.

Kindred has been working with the former Promise employees to transition them to Kindred Hospital Paramount.

In addition, Kindred has been collaborating with the hospital's medical staff to ensure continuity of care for current and future patients who require the specialised care that Kindred provides.

Kindred Healthcare, LLC has revenues of approximately USD 3.3bn.

At December 31, 2018, Kindred through its subsidiaries had approximately 35,700 employees providing healthcare services in 1,789 locations in 45 states, including 74 long-term acute care hospitals, 22 inpatient rehabilitation hospitals, 11 sub-acute units, 96 inpatient rehabilitation units (hospital-based) and contract rehabilitation service businesses which served 1,586 non-affiliated sites of service.

Country: USA

Sector: Healthcare

Target: Promise Healthcare Group

Buyer: Kindred Healthcare

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed