Kindred Completes Acquisition Of Centerre Healthcare

(RTTNews) - Kindred Healthcare, Inc. (KND) said Friday that it has completed the acquisition of Centerre Healthcare Corp. for a purchase price of about $195 million in cash.

The deal was originally announced in November.

Centerre currently operates 11 Inpatient Rehabilitation Hospitals with 612 beds. Centerre has two additional hospitals with a total of 90 beds under construction and scheduled to open in 2015, and a pipeline of additional potential hospitals in various stages of development.

Centerre's Inpatient Rehabilitation Hospitals are geographically aligned with five targeted Kindred Integrated Care Markets. The addition of Centerre's portfolio to Kindred's five Inpatient Rehabilitation Hospitals, and its 102 hospital-based acute rehabilitation units managed by Kindred's RehabCare division, will make Kindred one of the largest operators of Inpatient Rehabilitation Hospitals in the United States.