Kindred Healthcare, Louisville, Ky., announced that it closed on an agreement to buy Professional HealthCare, a Walnut Creek, Calif.-based home health, hospice, private duty nurse and durable medical equipment company, for $51 million in cash.
Kindred completes deal to acquire Professional HealthCare
Professional HealthCare, which was owned by private investment firm Mainsail Partners, San Francisco, operates in Arizona, northern California, Nevada and Utah, according to Kindred. Kindred currently operates 21 nursing and rehabilitation centers and four long-term acute-care hospitals within Professional Healthcare's service areas, and home health and hospice services in northern California.
“We continue to seek opportunities to expand our continuum of post-acute care services in our key cluster markets in response to the growing interest for integrated care,” said Paul Diaz, Kindred's president and CEO.
In June, Kindred announced it had completed its $1.3 billion acquisition of RehabCare Group of St. Louis.
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