Kindred Healthcare Advances Growth Strategy, Completes Sale of RehabCare

Kindred Healthcare, LLC (“Kindred” or the “Company”) today completed the sale of its RehabCare business to Select Rehabilitation, solidifying the Company’s position as a leading provider of hospital-level, patient-driven solutions for the nation’s most challenging patients, while successfully transforming its portfolio for long-term success.

Kindred is the nation’s largest specialty hospital company, providing compassionate care to the most difficult-to-treat, medically complex patients through its long-term acute care hospitals, inpatient rehabilitation hospitals, acute inpatient rehabilitation units, and behavioral health hospitals. Kindred’s 24,000 employees deliver patient-driven solutions in more than 300 locations in 34 states. The Company has over 120 joint venture hospital partnerships with the leading health systems in America.

Throughout the COVID-19 pandemic, Kindred’s hospitals – including long term acute care hospitals, rehabilitation hospitals/units, and acute behavioral health hospitals – have played an important and clinically valuable role in the public health response, which is supported by key clinical quality metrics and external research. Benjamin A. Breier, Kindred’s President and Chief Executive Officer, said, “Kindred’s hospitals have been delivering specialized clinical, ventilator and rehabilitation care for the sickest COVID patients as part of a coordinated community response with our strategic partners. I am exceedingly proud of our dedicated caregivers across our settings for the important role they are playing in responding to this crisis.”

As part of the Company’s growth strategy, Kindred expects to open 20 new rehabilitation hospitals, acute rehabilitation units and behavioral health hospitals with leading strategic hospital partners over the next two years. These facilities will help address the country’s fastest growing healthcare needs and are expected to drive significant growth. Kindred will continue to deliver value-based care in partnership with respected health systems, payors and referral sources.

Mr. Breier stated, “Kindred has continually transformed to anticipate and respond to changing industry dynamics and deliver on our mission of providing hope and healing to our patients. We led the industry with a patient-centered care model, and have strengthened our core lines of business through innovation, acquisitions and partnerships to better serve our patients. A key component of our strategy includes the regular evaluation and active management of our portfolio. With the sale of RehabCare, we build upon our record of innovation, strategic partnerships and portfolio transformation, positioning Kindred to achieve even greater long-term success.”

About Kindred Healthcare

Kindred Healthcare, LLC is a healthcare services company based in Louisville, Kentucky with annual revenues of approximately $2.7 billion⁽¹⁾. At September 30, 2020, Kindred through its subsidiaries had approximately 23,900 employees providing healthcare services in 327 locations in 34 states, including 64 long-term acute care hospitals, 22 inpatient rehabilitation hospitals, 10 sub-acute units, 101 inpatient rehabilitation units (hospital-based), contract rehabilitation service businesses which served 130 non-affiliated sites of service, and behavioral health services. Ranked as one of Fortune magazine’s Most Admired Healthcare Companies for nine years, Kindred’s mission is to help our patients reach their highest potential for health and healing with intensive medical and rehabilitative care through a compassionate patient experience. For more information, go to www.kindredhealthcare.com. You can also follow us on Facebook, LinkedIn, and Twitter.

(1) Revenues for the last twelve months ended September 30, 2020

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