KINDRED HEALTHCARE OPENS HOSPITAL IN WAYNE, NEW JERSEY, AND ANNOUNCES PLANS FOR TWO NEW HOSPITALS
Louisville, KY (July 20, 2006) – Kindred Healthcare, Inc. (the “Company”) (NYSE: KND) today announced the opening of Kindred Hospital New Jersey - Wayne in Wayne, New Jersey, and announced plans to open freestanding hospitals in Pittsburgh, Pennsylvania and Northern Palm Beach County, Florida.
Kindred Hospital New Jersey - Wayne is a 38-bed hospital-in-hospital (“HIH”) located within St. Joseph’s Wayne Hospital.
The Company also announced that it intends to open a 70-bed freestanding long-term acute care (“LTAC”) hospital with a co-located 40-bed subacute unit in Pittsburgh, Pennsylvania. The Company purchased an existing hospital and medical office building from Mercy Hospital of Pittsburgh. The hospital is expected to open in the fourth quarter of 2006 after completion of renovations and the receipt of certain regulatory approvals. The Company currently operates a freestanding LTAC hospital in Pittsburgh under the name Kindred Hospital - Pittsburgh and a HIH under the name Kindred Hospital at Heritage Valley in the Pittsburgh market.
Following the sale of its facility to Kindred, Mercy moved its inpatient behavioral health services to the main campus of Mercy Hospital of Pittsburgh in Uptown. “We are pleased that Kindred will continue to use the North Side location to provide much needed healthcare services to the community,” said Ken Eshak, President and Chief Executive Officer of Pittsburgh Mercy Health System.
In addition, the Company plans to build a 70-bed freestanding LTAC hospital in Riviera Beach in Palm Beach County, Florida. The hospital is expected to open in the first quarter of 2008 after construction and the receipt of certain regulatory approvals. The Company currently operates eight hospitals in the state of Florida.
“We continue to identify select markets which will benefit from our specialized hospital services and look forward to expanding our presence in New Jersey, Pennsylvania and Florida,” said Paul J. Diaz, President and Chief Executive Officer of the Company. “We believe these new hospitals will serve a critical need in these communities and continue to support our growth plans.”
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
