Louisville, Ky.-based post-acute services provider Kindred Healthcare has signed a definitive merger agreement to acquire Centerre Healthcare — an operator of inpatient rehabilitation hospitals — for approximately $195 million.
Centerre operates 11 inpatient rehabilitation hospitals and has two additional hospitals under construction and expected to open next year. With the addition of Centerre's facilities, Kindred will become one of the largest inpatient rehabilitation hospital operators in the country.
Commenting on the transaction, President and COO of Kindred Benjamin A. Breier, said "This is a positive step in Kindred's strategy to collaborate with healthcare networks, managed care providers and other health entities in local markets so that we may best meet patient needs, reduce costs and improve clinical outcomes."
Before the merger can be finalized, Centerre's stockholders must vote to approve the transaction. In addition, the deal requires regulatory approvals.
Kindred and Centerre expect the transaction to close in the first quarter of 2015.
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