UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 9, 2016
KINDRED HEALTHCARE, INC.
(Exact name of registrant as specified in its charter)
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Delaware |
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001-14057 |
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61-1323993 |
(State or other jurisdiction
of incorporation or organization) |
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(Commission
File Number) |
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(IRS Employer
Identification No.) |
680 South Fourth Street
Louisville, Kentucky
(Address of principal executive offices)
40202-2412
(Zip Code)
Registrants telephone number, including area code: (502) 596-7300
Not Applicable
(Former
name or former address, if changed since last report)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01 |
Regulation FD Disclosure. |
Incorporated by reference is a press release issued by
Kindred Healthcare, Inc. (the Company) on February 9, 2016, which is attached hereto as Exhibit 99.1. This information is being furnished under Item 7.01 and shall not be deemed filed for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liability of such section, nor shall this information be deemed incorporated by reference in any filing made by the
Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits
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Exhibit |
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Description |
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99.1 |
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Press release dated February 9, 2016. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereto duly authorized.
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Date: February 10, 2016 |
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By: |
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/s/ Joseph L. Landenwich |
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Joseph L. Landenwich, General Counsel and Corporate Secretary |
EXHIBIT INDEX
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Exhibit |
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Description |
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99.1 |
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Press release dated February 9, 2016. |
EXHIBIT 99.1
Contact: Susan E. Moss
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Senior Vice President, Marketing and Communications |
KINDRED
ANNOUNCES EXPANSION OF ITS HOME HEALTH OPERATIONS
AND GROWTH IN FOUR INTEGRATED CARE MARKETS
LOUISVILLE, Ky. (February 9, 2016) Kindred Healthcare, Inc. (Kindred or the Company) (NYSE:KND) today announced the
expansion of its home health operations in South Carolina. In addition, the Company announced growth in its inpatient rehabilitation facility (IRF) business, hospice services and nursing center operations in several integrated care
markets.
Home Health South Carolina
Kindred acquired from the South Carolina Department of Health and Environmental Control (DHEC) licenses to provide home health
services in all 46 counties in South Carolina for approximately $18 million. Kindred reached an agreement with DHEC following a state bidding process. The agreement took effect January 1, 2016, and immediately expands Kindreds services
from 10 offices serving 22 counties to 19 offices serving the entire state of South Carolina. As part of the license transfer agreement, Kindred agreed to hire all employees and agreed to take over patients upon consent. Upon completion, 72
employees accepted the Companys offer of employment and 650 patients granted consent to the Companys care. With this platform, Kindred intends to open additional offices and expand its home health services in the state. The Company has
been providing home health services in South Carolina since it acquired Gentiva Health Services, Inc. (Gentiva) in February 2015.
IRF and Hospice Cleveland Integrated Care Market
In January 2016, Kindred opened its second IRF in the Cleveland area in partnership with University Hospitals. The 50-bed IRF, named University
Hospitals Avon Rehabilitation Hospital, is located in Avon, Ohio, and features all private rooms, dedicated therapy space, outdoor courtyards, and home-like, transition to community areas that help prepare patients for daily activities
and a safe return home. The facility provides physical, occupational and speech-language therapy, specialized rehabilitation nursing and a wide range of clinical services, including neurological and stroke recovery centers. Kindred and University
Hospitals also operate a 50-bed IRF, named University Hospitals Rehabilitation Hospital, in Beachwood, on the east side of the city, which opened in 2013.
In addition, effective February 1, 2016, Kindred acquired HopeBridge Hospice, LLC, which provides hospice care in six counties in the
Cleveland area and is now operating under the name Kindred at Home Hospice. This complements Kindreds existing services in the Cleveland market that include two transitional care hospitals, two assisted living facilities, three nursing
centers, a co-located hospital-based sub-acute unit, home health and non-medical home care services, and Kindred House Calls, the Companys home-based primary care business.
Transitional Care Center Las Vegas Integrated Care Market
In January 2016, Kindred opened a new 160-bed Transitional Care Center (TCC) in its Las Vegas integrated care market. The TCC
specializes in intensive short-term rehabilitation therapy, including cardiac, pulmonary and orthopedic rehabilitation. In the Las Vegas market, Kindred operates three transitional care hospitals, a co-located hospital-based sub-acute unit, and home
health, hospice and non-medical home care services.
MORE
680 South Fourth Street Louisville, Kentucky 40202
502.596.7300 www.kindredhealthcare.com
Kindred Announces Expansion of Its Home Health Operations and Growth in Four Integrated Care Markets
Page 2
February 9, 2016
Transitional Care Center and IRF Phoenix Integrated Care Market
In January 2016, Kindred opened a new 120-bed TCC on the campus of Phoenix St. Lukes Medical Center in the Companys Phoenix
integrated care market. The TCC specializes in intensive short-term rehabilitation therapy, including cardiac and orthopedic rehabilitation. In the Phoenix market, Kindred also operates two transitional care hospitals, and home health and
non-medical home care services.
In addition, Kindred has broken ground on a 50-bed IRF in Chandler, Arizona, a suburb of Phoenix, in
partnership with Dignity Health. Subject to customary regulatory and other approvals, Kindred expects the IRF to open by the fourth quarter of 2016.
Sub-Acute Skilled Nursing Unit Miami Integrated Care Market
In January 2016, Kindred opened a 30-bed co-located sub-acute skilled nursing unit within Kindred Hospital South Florida-Hollywood, situated in
Kindreds Miami integrated care market. Patients in the unit receive rehabilitation therapy that acts as a bridge to transition them from hospital care back to the community. The focus is on physical and functional improvement and personal
independence. A team of professionals works with each patient to restore health and help to achieve maximum independence in the activities of daily living. In its Miami market, Kindred also operates four transitional care hospitals, and provides
home health and hospice services.
Hospice Orlando, Florida
Also in Florida, the Company acquired Samaritan Care Hospice of Osceola, Inc., doing business as Samaritan Care Hospice of Florida, effective
January 1, 2016. Samaritan Care Hospice, now called Kindred at Home Hospice, operates one location in Orlando, where Kindred operates six home health locations.
Management Commentary
We believe these projects add the right assets and services to the right markets, allowing us to build upon our continuum of care model
that delivers a full spectrum of post-acute care options to patients, payors and referral sources, said Benjamin A. Breier, President and Chief Executive Officer of the Company. We are grateful to our many partners in these projects and
are excited about continuing to grow our services in these communities.
About Kindred Healthcare
Kindred Healthcare, Inc., a top-95 private employer in the United States, is a FORTUNE 500 healthcare services company based in Louisville,
Kentucky with annual revenues of approximately $7.2 billion(1). At September 30, 2015, Kindred through its subsidiaries had approximately 102,200 employees providing healthcare services
in 2,723 locations in 47 states, including 95 transitional care hospitals, 18 inpatient rehabilitation hospitals, 90 nursing centers, 20 sub-acute units, 626 Kindred at Home home health, hospice and non-medical home care sites of service, 101
inpatient rehabilitation units (hospital-based) and a contract rehabilitation services business, RehabCare, which served 1,773 non-affiliated sites of service. Ranked as one of Fortune magazines Most Admired Healthcare Companies for six years,
Kindreds mission is to promote healing, provide hope, preserve dignity and produce value for each patient, resident, family member, customer, employee and shareholder we serve. For more information, go to www.kindredhealthcare.com. You
can also follow us on Twitter and Facebook.
(1) |
Revenues were computed by combining the twelve months ended December 31, 2014 data for Kindred, Gentiva and Centerre Healthcare Corporation, which was acquired by the Company on January 1, 2015.
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END
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