KINDRED HEALTHCARE ANNOUNCES PLANS FOR NEW HOSPITALS IN RICHMOND, VIRGINIA, AND INDIANAPOLIS, INDIANA, AND THE OPENING OF AN INSTITUTIONAL PHARMACY IN NASHVILLE, TENNESSEE
Louisville, KY (October 18, 2005) – Kindred Healthcare, Inc. (the “Company”) (NYSE: KND) today announced plans for a freestanding hospital in Richmond, Virginia, and a replacement hospital in Indianapolis, Indiana. The Company also announced it has opened a new Kindred Pharmacy Services (“KPS”) location in Nashville, Tennessee.
The Company is planning a 60-bed long-term acute care (“LTAC”) hospital in Richmond. The hospital is expected to open in the first quarter of 2007 after completion of renovations and the receipt of certain regulatory approvals.
The Company also is planning to build a 60-bed freestanding LTAC hospital with a 40-bed subacute unit in Greenwood, Indiana, immediately south of Indianapolis. The hospital will replace the existing 46-bed Kindred Hospital - Indianapolis South facility, which has been in its current location for 12 years. The hospital is expected to open in the first quarter of 2007 subject to the satisfaction of certain conditions and the receipt of certain regulatory and other approvals. The Company also currently operates a freestanding LTAC hospital in downtown Indianapolis under the name Kindred Hospital - Indianapolis.
KPS Nashville is an institutional pharmacy opened in September that will serve affiliated and non-affiliated long-term care providers in Tennessee and Kentucky. With the opening, KPS now operates four pharmacies in Tennessee: Memphis, Knoxville, Cookeville and Nashville.
“These new locations reflect the continued progress we are making in achieving our organic development goals,” said Paul J. Diaz, President and Chief Executive Officer of the Company. “We look forward to opening a freestanding hospital in Richmond and the hospital and subacute unit in Indianapolis, which is a great example of how we are looking for ways to integrate our different business lines. The Nashville pharmacy expands our market presence in Tennessee and represents the sixth new site added to our KPS portfolio this year.”
Kindred Healthcare, Inc. through its subsidiaries operates hospitals, nursing centers, institutional pharmacies and a contract rehabilitation services business across the United States.
CONTACT:
Susan E. Moss
Vice President of Corporate Communications
(502) 596-7296
