Nearly 9,000 employees of Louisville, Ky.-based Kindred Healthcare would join Glenview, Ill.-based Select Rehabilitation under a pending deal between the two, Kindred confirmed to Becker's.
Kindred, a post-acute and long-term acute care provider, announced the pending deal Oct. 5.
Under the arrangement, Select would acquire Kindred's RehabCare business line, creating one of the nation's largest providers of contract rehabilitation services, Kindred said. The combined company's service area would include 43 states and include skilled nursing facilities, assisted living facilities and outpatient facilities.
If completed, the deal would affect 8,800 people who work for RehabCare, or about 28 percent of Kindred's total workforce of about 32,000.
Kindred said the company views it as a great opportunity for the affected workers.
"Select's exclusive focus on contract rehabilitation makes it an ideal partner to build upon RehabCare’s patient- and client-centric approach," President and CEO Benjamin Breier said in a news release. "By combining strengths with RehabCare, Select will be poised to enhance the quality and breadth of their services and offer new opportunities for growth and professional development for our RehabCare team members."
Anna Gardina Wolfe, Select's CEO and co-founder, echoed Mr. Breier in the news release, saying the acquisition "presents exciting growth opportunities based on the companies' shared cultural foundation of clinical excellence, quality care provision and outstanding customer service."
"The addition of RehabCare's management and therapy teams will solidify Select's best-in-class reputation, while the expanded operations will position us to leverage our technology solutions beyond the contract therapy healthcare sector," she said.
Terms of the transaction were not disclosed. The deal is expected to close this year.