Press release from Business Wire
Kindred at Home and Dignity Health Announce Plans for Joint Venture to Expand Home Health Services in San Bernardino, California
Tuesday, May 14, 2013
Kindred at Home and Dignity Health Announce Plans for Joint Venture to Expand Home Health Services in San Bernardino, California17:38 EDT Tuesday, May 14, 2013
LOUISVILLE, Ky. & SAN BERNARDINO, Calif. (Business Wire) -- Kindred Healthcare, Inc. (“Kindred” or the “Company”) (NYSE:KND) today announced that it has signed a definitive agreement with Dignity Health to create a joint venture to expand home health services in San Bernardino, California.
Kindred, through its Kindred at Home Division, and Dignity Health will create a joint venture to expand the home health services provided by Community Hospital of San Bernardino, a subsidiary of Dignity Health, a San Francisco, California-based provider of healthcare services in 17 states.
The new joint venture will be called Community Home Health, An Affiliate of Kindred at Home. Kindred will be a 60% owner and Dignity Health will be a 40% owner. Kindred at Home provides home health, hospice and non-medical home care at more than 100 locations in 10 states, including California.
Kindred at Home and Dignity Health expect to finalize the joint venture by June 30, 2013, subject to several regulatory approvals and other conditions to closing. In the Riverside-San Bernardino market, Kindred currently operates three Transitional Care Hospitals (certified as long-term acute care hospitals).
“We look forward to working with Dignity Health and Community Hospital's team of experienced healthcare professionals,” said Paul J. Diaz, Chief Executive Officer, Kindred Healthcare, Inc.
“We're excited to partner with Community Hospital to enhance their home health services by adding a national network of clinical best practices, specifically around the treatment of congestive heart failure, chronic obstructive pulmonary disease and diabetes,” said Stephanie Phillips, Senior Director of Operations for Kindred at Home in Southern California. “In addition, Kindred at Home has an electronic medical record management system and mobile technology allowing clinicians to spend more time caring for patients and less time charting.”
“Home health is a very important part of the continuum of quality health care services we provide for our community. We're very happy to have the support of Kindred to help us expand our efforts to meet the local need,” said June Collison, President, Community Hospital of San Bernardino.
“For Dignity Health, strategic partnerships with best practice specialty organizations like Kindred are imperative to our ability to continue to improve community access to cost-effective, quality health care services,” said Marvin O'Quinn, Chief Operating Officer for Dignity Health. “Kindred is well-equipped to partner with us and provide home health care in a clinically integrated way. They are an excellent fit with Dignity Health because their commitment to clinical excellence and positive patient experience mirrors our own. We look forward to our successful collaboration and future growth of this service.”
“The joint venture with Dignity Health is an example of the relationships Kindred is pursuing with other healthcare providers across the country that align with our goal of creating the capacity to deliver the full continuum of post-acute care in local communities,” Mr. Diaz said. “This strategy of collaborating with other healthcare providers and creating more integrated care models best meets the needs of patients, lowers costs and improves care outcomes.”
About Kindred Healthcare
Kindred Healthcare, Inc., a top-125 private employer in the United States, is a FORTUNE 500 healthcare services company based in Louisville, Kentucky with annual revenues of $6 billion and approximately 76,000 employees in 46 states. At March 31, 2013, Kindred through its subsidiaries provided healthcare services in 2,169 locations, including 116 transitional care hospitals, six inpatient rehabilitation hospitals, 204 nursing centers, 24 sub-acute units, 101 Kindred at Home hospice, home health and non-medical home care locations, 103 inpatient rehabilitation units (hospital-based) and a contract rehabilitation services business, RehabCare, which served 1,615 non-affiliated facilities. Ranked as one of Fortune magazine's Most Admired Healthcare Companies for five years in a row, Kindred's mission is to promote healing, provide hope, preserve dignity and produce value for each patient, resident, family member, customer, employee and shareholder we serve. For more information, go to www.kindredhealthcare.com. You can also follow us on Twitter and Facebook.
About Dignity Health
Dignity Health, one of the nation's five largest health care systems, is a 17-state network of nearly 11,000 physicians, 56,000 employees, and more than 300 care centers, including hospitals, urgent and occupational care, imaging centers, home health, and primary care clinics. Headquartered in San Francisco, Dignity Health is dedicated to providing compassionate, high-quality and affordable patient-centered care with special attention to the poor and underserved. In 2011, Dignity Health provided $1.6 billion in charitable care and services. For more information, please visit our website at www.dignityhealth.org. You can also follow us on Twitter and Facebook.
Kindred Healthcare, Inc.
Susan E. Moss, 502-596-7296
Vice President, Communications
Kimberly VandenBosch, 909-806-1993
Senior Director, Marketing, Communications