KINDRED HEALTHCARE TO LEASE EIGHT NURSING CENTERS IN NORTHERN CALIFORNIA
Louisville, KY (February 2, 2007) – Kindred Healthcare, Inc. (the “Company”) (NYSE: KND) today announced that its subsidiaries have signed an agreement to lease eight skilled nursing facilities from Ocadian, L.L.C., a privately held company based in San Francisco, California.
The nursing centers contain a total of 910 licensed beds and are located in the San Francisco Bay area. Terms of the lease agreement were not disclosed. Kindred currently operates 12 skilled nursing facilities and 3 long-term acute care hospitals in Northern California.
“The Ocadian nursing centers complement and expand our presence in San Francisco and Oakland and the surrounding markets,” said Paul J. Diaz, President and Chief Executive Officer of the Company. “The Ocadian skilled nursing facilities are excellent properties with a reputation for quality services and are located near existing Kindred hospitals and nursing centers, enabling us to further our market-development strategy in Northern California. We are increasingly focusing on the opportunities we have, particularly between our hospitals and nursing centers, to share clinical resources, grow admissions and better educate the marketplace on our ability to care for medically complex post-acute patients.”
About Kindred Healthcare
Kindred Healthcare, Inc. (NYSE: KND) is a Fortune 500 healthcare services
company, based in Louisville, Kentucky, with annualized revenues of $4.3
billion that provides services in over 500 locations in 39 states. Kindred
through its subsidiaries operates long-term acute care hospitals, skilled
nursing centers, institutional pharmacies and a contract rehabilitation
services business, Peoplefirst Rehabilitation Services, across
the United States. Kindred’s 55,000 employees are committed to providing
high quality patient care and outstanding customer service to become the
most trusted and respected provider of healthcare services in every community
we serve. For more information, go to www.kindredhealthcare.com.
CONTACT:
Susan E. Moss
Vice President of Corporate Communications
(502) 596-7296
