KND Kindred Healthcare, Inc. (delisted)

Partnership will construct and operate a 34-bed hospital in Billings, Montana

Kindred Healthcare, Inc. (“Kindred”) (NYSE:KND), Billings Clinic and St. Vincent Healthcare today announced the signing of a definitive agreement to create a partnership to construct and operate a 34-bed inpatient rehabilitation hospital in Billings, Montana.

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The new inpatient rehabilitation hospital, The Rehabilitation Hospital of Montana, will offer all private rooms and treat patients who are recovering from conditions such as stroke, traumatic brain injury and spinal cord injury. The hospital will meet the growing clinical needs of Billings, the state and region. Kindred will manage the day-to-day operations of the hospital, which is expected to employ more than 100 caregivers and staff. Subject to several regulatory and other approvals, the partners expect the inpatient rehabilitation hospital to open by the first quarter of 2019.

Kindred and St. Vincent Healthcare have an existing relationship as Kindred manages New Hope, the inpatient rehabilitation unit at St. Vincent Healthcare. Kindred and St. Vincent Healthcare plan to transfer the operations of this unit to the new rehabilitation hospital once it is open.

“We are pleased to work with the two premier healthcare providers in Billings to offer this high-quality post-acute care resource for the benefit of the community,” said Jason Zachariah, President of Kindred Rehabilitation Services, a division of Kindred. “St. Vincent Healthcare has been a great partner and we look forward to working with Billings Clinic on this quality-focused collaboration.”

“This collaboration will provide our community and the region greater access to new, high-quality rehabilitation services close to home,” said Randall Gibb, M.D., Billings Clinic Interim Chief Executive Officer. “We are bringing together the resources and knowledge of two of the strongest healthcare organizations in the region with Kindred’s nationally-recognized expertise in post-acute care to build and operate this facility, the first of its kind in Montana. This will strengthen the system of providing rehabilitation services already integrated within our organizations and we know this new partnership will benefit people across the region.”

“We are pleased to be part of this unique collaboration to continue to provide specialized inpatient rehabilitation services to patients across Montana,” said Steve Loveless, St. Vincent Healthcare and SCL Health Montana President. St. Vincent Healthcare is part of SCL Health, based out of Denver, Colorado. “All three organizations have worked together to ensure patients will receive high-quality services and team-based care so they are able to return to the life they want to live.”

About Kindred Healthcare

Kindred Healthcare, Inc., a top-90 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 March 31, 2017, Kindred through its subsidiaries had approximately 100,100 employees providing healthcare services in 2,624 locations in 46 states, including 82 long-term acute care hospitals, 19 inpatient rehabilitation hospitals, 91 nursing centers, 19 sub-acute units, 619 Kindred at Home home health, hospice and non-medical home care sites of service, 101 inpatient rehabilitation units (hospital-based) and contract rehabilitation service businesses which served 1,693 non-affiliated sites of service. Ranked as one of Fortune magazine’s Most Admired Healthcare Companies for eight years, 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. For more information, go to www.kindredhealthcare.com. You can also follow us on Twitter and Facebook.

     

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(1)

    Revenues for the last twelve months ended March 31, 2017.  

About Billings Clinic

Billings Clinic is Montana’s largest health system serving Montana, Wyoming and the western Dakotas. A not-for-profit organization led by a physician CEO, Billings Clinic is governed by a board of community members, nurses and physicians. At its core, Billings Clinic is a physician-led, integrated multispecialty group practice with a 304-bed hospital and Level II trauma center. Billings Clinic has more than 4,200 employees, including more than 450 physicians and advanced practitioners offering more than 50 specialties. More information can be found at www.billingsclinic.com.

About St. Vincent Healthcare

St. Vincent Healthcare in Billings, Montana was founded in 1898 and is one of the largest tertiary care hospitals in Montana. With 286 licensed and 201 staffed beds, St. Vincent Healthcare provides inpatient, outpatient and diagnostic services to over 400,000 patients throughout eastern and south central Montana, as well as northern Wyoming. St. Vincent Healthcare’s comprehensive, quality-driven and innovative services include: cardiology, orthopedics, oncology, neurosciences, general surgery and primary care. St. Vincent Children’s Healthcare is the state’s only medical center providing a complete spectrum of care for mothers and babies, including the Pediatric Intensive Care Unit, newly renovated Labor and Delivery area and Level III-B Neonatal Intensive Care Unit. St. Vincent Healthcare supports 31 outpatient clinics, a Hybrid Operating suite, CyberKnife Radiosurgery System, da Vinci Surgical System and operates its HELP Flight program (fixed-wing and helicopter) with over 800 flights per year. The hospital employs approximately 2,100 staff and has nearly 500 members on its medical staff. To learn more, visit www.svh.org.

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Kindred Healthcare, Inc.Susan E. Moss, 502-596-7296Senior Vice President, Marketing and Communicationssusan.moss@kindred.comorBillings ClinicZach Benoit, 406-657-4791Public Relations LiaisonCommunity Relationszbenoit@billingsclinic.orgorSt. Vincent HealthcareAngela Douglas, 406-238-6204Communications Managerangela.douglas@sclhs.net