Industry News • August 1, 2016
LOUISVILLE, Ky. & LITTLE ROCK, Ark.–(BUSINESS WIRE)–Kindred Healthcare, Inc. (“Kindred” or the “Company”) (NYSE:KND) and the Arkansas Department of Health (“ADH”) today announced that the parties have completed a previously announced agreement for Kindred to acquire the in-home health care operations (the “Agency”) from ADH, which includes licenses to provide home health, hospice and personal care services throughout the state of Arkansas, for approximately $39 million. Kindred reached an agreement with ADH following a state bidding process.
$KND KINDRED HEALTHCARE ACQUIRES IN-HOME HEALTH CARE OPERATIONS FROM THE ARKANSAS DEPARTMENT OF HEALTH
In the transaction, Kindred acquired the Agency’s licenses to provide home health and personal care services in 69 counties and hospice services in 42 counties. As part of the agreement, Kindred agreed to retain all current employees and agreed to serve all current patients upon consent. Including the home health and hospice services that Kindred previously provided in Arkansas, Kindred now provides in-home healthcare services in 72 of the state’s 75 counties.
“We welcome the Agency’s caregivers to our team as we expand our Kindred at Home operations in Arkansas,” said Benjamin A. Breier, Kindred’s President and Chief Executive Officer. “We are excited to build on the state’s program and look forward to bringing our care and clinical protocols to these operations to improve the ability of patients to safely return home or to remain in their home.”
“The Arkansas Department of Health is pleased to have completed our agreement with Kindred on schedule, in order to assure continuity of care for patients and a smooth transition for staff,” said Nathaniel Smith, MD, MPH, Director of the Arkansas Department of Health and State Health Officer. “I am happy to see these services continue in Arkansas and am glad that our dedicated staff will have a chance to keep providing these services.”
“I am pleased the transfer of services from the Arkansas Department of Health’s In-Home Services program to Kindred Healthcare has been completed,” said Asa Hutchinson, Governor of Arkansas. “The sale’s finalization is a great next step for both patients and employees of the program. I look forward to Kindred Healthcare continuing the efforts of ADH in the private sector and keeping patients connected to exceptional home health, hospice and care services in Arkansas.”
This article originally appeared in an article on BusinessWire.