Kindred Healthcare, Inc. (“Kindred” or the “Company”) (NYSE:KND)
today announced that it has entered into an incremental joinder to
increase the available credit capacity from $750 million to $900
million under its senior secured asset-based revolving credit
facility (the “ABL Facility”).
The increase in the borrowing capacity will be effective upon
completion of the Company’s merger with Gentiva Health Services,
Inc. (“Gentiva”), which is expected in the first quarter of 2015.
The pricing and other terms of the ABL Facility were not
changed.
Forward-Looking
Statements
This press release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These forward-looking statements include, but are
not limited to, statements regarding the Company’s proposed
business combination transaction with Gentiva (including financing
of the proposed transaction and the benefits, results, effects and
timing of a transaction), all statements regarding the Company’s
(and the Company’s and Gentiva’s combined) expected future
financial position, results of operations, cash flows, dividends,
financing plans, business strategy, budgets, capital expenditures,
competitive positions, growth opportunities, plans and objectives
of management, and statements containing the words such as
“anticipate,” “approximate,” “believe,” “plan,” “estimate,”
“expect,” “project,” “could,” “would,” “should,” “will,” “intend,”
“may,” “potential,” “upside,” and other similar expressions.
Statements in this press release concerning the business outlook or
future economic performance, anticipated profitability, revenues,
expenses, dividends or other financial items, and product or
services line growth of the Company (and the combined businesses of
the Company and Gentiva), together with other statements that are
not historical facts, are forward-looking statements that are
estimates reflecting the best judgment of the Company based upon
currently available information.
Such forward-looking statements are inherently uncertain, and
stockholders and other potential investors must recognize that
actual results may differ materially from the Company’s
expectations as a result of a variety of factors, including,
without limitation, those discussed below. Such forward-looking
statements are based upon management’s current expectations and
include known and unknown risks, uncertainties and other factors,
many of which the Company is unable to predict or control, that may
cause the Company’s actual results, performance or plans with
respect to Gentiva to differ materially from any future results,
performance or plans expressed or implied by such forward-looking
statements. These statements involve risks, uncertainties and other
factors discussed below and detailed from time to time in the
Company’s filings with the Securities and Exchange Commission.
Risks and uncertainties related to the proposed merger include,
but are not limited to, the risk that Gentiva’s stockholders do not
approve the merger, potential adverse reactions or changes to
business relationships resulting from the announcement or
completion of the merger, uncertainties as to the timing of the
merger, adverse effects on the Company’s stock price resulting from
the announcement or completion of the merger, competitive responses
to the announcement or completion of the merger, the risk that
healthcare regulatory, licensure or other approvals and financing
required for the consummation of the merger are not obtained or are
obtained subject to terms and conditions that are not anticipated,
costs and difficulties related to the integration of Gentiva’s
businesses and operations with the Company’s businesses and
operations, the inability to obtain, or delays in obtaining, cost
savings and synergies from the merger, uncertainties as to whether
the completion of the merger or any transaction will have the
accretive effect on the Company’s earnings or cash flows that it
expects, unexpected costs, liabilities, charges or expenses
resulting from the merger, litigation relating to the merger, the
inability to retain key personnel, and any changes in general
economic and/or industry-specific conditions.
In addition to the factors set forth above, other factors that
may affect the Company’s plans, results or stock price are set
forth in the Company’s Annual Report on Form 10-K and in its
reports on Forms 10-Q and 8-K.
Many of these factors are beyond the Company’s control. The
Company cautions investors that any forward-looking statements made
by the Company are not guarantees of future performance. The
Company disclaims any obligation to update any such factors or to
announce publicly the results of any revisions to any of the
forward-looking statements to reflect future events or
developments.
About Kindred Healthcare
Kindred Healthcare, Inc., a top-150 private employer in the
United States, is a FORTUNE 500 healthcare services company based
in Louisville, Kentucky with annual revenues of $5 billion and
approximately 62,600 employees in 47 states. At September 30, 2014,
Kindred through its subsidiaries provided healthcare services in
2,376 locations, including 97 transitional care hospitals, five
inpatient rehabilitation hospitals, 99 nursing centers, 22
sub-acute units, 152 Kindred at Home hospice, home health and
non-medical home care locations, 102 inpatient rehabilitation units
(hospital-based) and a contract rehabilitation services business,
RehabCare, which served 1,899 non-affiliated facilities. Ranked as
one of Fortune magazine’s Most Admired Healthcare Companies for six
years in a row, Kindred’s mission is to promote healing, provide
hope, preserve dignity and produce value for each patient,
resident, family member, customer, employee and shareholder we
serve.
MediaKindred Healthcare, Inc.Susan Moss,
502-596-7296Senior Vice President, Marketing and
CommunicationsorJoele Frank, Wilkinson Brimmer KatcherAndrew Siegel
/ Nick Lamplough, 212-355-4449orInvestors and
AnalystsKindred Healthcare, Inc.Stephen Farber,
502-596-2525Executive Vice President, Chief Financial Officer
Kindred Healthcare (NYSE:KND)
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