Kindred Healthcare Announces RehabCare Group Merger

Posted by Jason Greis on February 13, 2011 under Articles, Industry News | Be the First to Comment

On February 8, 2011, Kindred Healthcare, Inc. (“Kindred”) and RehabCare Group, Inc. (“RehabCare”) jointly announced the signing of a definitive merger agreement under which Kindred will acquire RehabCare for an estimated $35 per share, which includes $26 per share in cash and 0.471 shares of Kindred common stock.  The transaction was unanimously approved by the Boards of both Kindred and RehabCare and is expected to close at the end of the second quarter, pending approval from the shareholders of both companies and receipt of antitrust approval.  Read More...

GAO Report Highlights Differences in LTACH Oversight Standards in Response to Senate Finance Committee Investigation

Posted by Jason Greis on January 8, 2011 under Articles, Industry News | Be the First to Comment

On December 22, 2010, the Government Accountability Office (GAO) released a report (Report) highlighting key differences in Federal oversight standards among long-term acute care hospitals (LTACHs) and certain other classes of hospitals and skilled nursing facilities.  The Report was prepared in response to the Senate Finance Committee’s initiation of a formal investigation in March 2010 after a February 10, 2010 New York Times article described patient deaths and allegations of substandard patient care at one of the nation’s largest LTACH providers. Read More...

Kindred Continues Expansion through Acquisitions

Posted by Jason Greis on August 28, 2010 under Articles, Industry News | Be the First to Comment

Kindred Healthcare has moved to expand its market presence in key cluster markets in California and Texas by signing definitive agreements to purchase five LTACHs in southern California for $180 million and three Texas-based nursing and rehabilitation centers for $38 million in two separate all-cash deals for a total purchase price of $218 million.  Both transactions require regulatory approvals and are expected to close later this year. Read More...

Cornerstone and Solara Complete Merger

Posted by Jason Greis on August 11, 2010 under Articles, Industry News | Be the First to Comment

On August 4, 2010 it was announced that Cornerstone Healthcare Group completed a merger with Solara Healthcare.  Both Cornerstone and Solara are privately-owned, Dallas-based providers of Long-Term Acute Care (LTAC) hospital services.  The newly-combined company consists of 18 owned and managed LTAC hospitals, operating in Texas, Louisiana, Arizona, West Virginia, Ohio and Oklahoma.  The combined company will be led by Mike Brohm, President and CEO of Cornerstone and the Cornerstone executive management team.  Cornerstone and Solara will both continue to operate under their existing brand names.  The combined company will become the nation’s fourth largest provider of LTACH services (by number of LTACH facilities owned or managed) behind Select, Kindred and Rehabcare (and assuming Select and Regency complete their proposed transaction).  Financial terms of the merger were not disclosed. Read More...

Jim Prister to Chair AHA’s Section for Long-Term Care and Rehabilitation

Posted by Jason Greis on March 5, 2010 under Industry News | Be the First to Comment

Congratulations to James (Jim) Prister, a NALTH Board member and President and CEO of RML Specialty Hospital, a long-term acute care hospital located in Hinsdale, Illinois focusing on weaning ventilator-dependent patients.  Jim was chosen to be the 2010 chair of the American Hospital Association’s (AHA) Section for Long-Term Care and Rehabilitation (see Press Release).  As chair, Jim will lead the section’s governing council which advises the AHA on public policy issues of concern to all post-acute and continuing care providers.   The governing council represents executives from among the nation’s leading LTACHs, rehabilitation facilities, skilled nursing facilities, home health and continuing care services. Read More...

Summit Park Hospital Opens New Acute Renal Dialysis Center

Posted by Jason Greis on December 9, 2009 under Industry News | Be the First to Comment

On December 8, 2009, Rockland County Executive, C. Scott Vanderhoef ,and Hospitals Commissioner, Richard Maloney, announced the official opening of Summit Park Hospital’s new Acute Renal Dialysis Unit.  Summit Park Hospital is a 100-bed acute care hospital with 57 physical medicine/rehabilitation beds and 43 inpatient psychiatric beds and is one of four LTACHs in New York State.  Representatives from several regional hospitals, including Good Samaritan Hospital in Suffern and the Westchester County Medical Center, attended the ribbon cutting ceremony held on the fourth floor dialysis unit. Read More...