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Kindred Healthcare, Inc. (the “Company” or “Kindred”)
KND today
announced that it has signed a definitive agreement to acquire IntegraCare
Holdings, Inc. (“IntegraCare”), a portfolio company of private equity firm
Flexpoint Ford, LLC, for a purchase price of $71 million in cash plus a
potential $4 million cash earn out based on 2013 earnings. The Company expects
to finance the transaction with operating cash flows and proceeds from its
revolving credit facility. IntegraCare will have no outstanding long-term debt
at closing.
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