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Kindred Healthcare, Inc.
KND today
announced that its subsidiary has acquired Homecare Advantage, Inc. for a purchase price of approximately $2 million in cash. Homecare
Advantage is a high-quality provider of home health services which operates
one location in the Los Angeles, California market and provides services in
Los Angeles and Orange counties.
Homecare Advantage currently generates annualized revenues of approximately
$2.5 million. The Homecare Advantage location will allow Kindred to expand its
service area and operations in the Los Angeles market, which currently
includes one nursing and rehabilitation center, nine transitional care
hospitals, one hospital-based sub-acute unit, three home healthcare locations
and, through its RehabCare division, three hospital-based acute rehabilitation
units.
The Company financed the transaction with operating cash flows and proceeds
from its revolving credit facility. Homecare Advantage had no outstanding
long-term debt at closing.
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