The healthcare services giant Kindred Healthcare, LLC is back in the M&A market. Much of the company’s activity has focused on partnerships and new development projects, but now Kindred is adding two rehabilitation hospitals with two separate joint ventures.
The first deal was announced in partnership with Texas Health Resources, a faith-based, not-for-profit health system. The two companies have jointly taken control of Everest Rehabilitation Hospital of Keller, a 36-bed rehabilitation hospital located in the northern suburbs of Fort Worth, Texas that just opened in December 2020. The hospital will be renamed Texas Rehabilitation Hospital of Keller.
This will be the second hospital operated by Texas Health Resources and Kindred Health; the companies also operate Texas Rehabilitation Hospital of Fort Worth, which opened in April 2011. It is a 66-bed hospital located in the medical district of Fort Worth.
Over in Oklahoma, Kindred Healthcare and Mercy Hospital Oklahoma City purchased Everest Rehabilitation Hospital, a 36-bed rehab hospital located in the southern part of Oklahoma City. Everest Rehabilitation Hospital has been renamed Mercy Rehabilitation Hospital Oklahoma City South. Mercy will operate the hospital, which is usually at or near capacity and is adding a 10,000-square-foot patient wing, with 16 beds and two patient care areas. This deal closed on March 2, 2021.
The two companies aren’t strangers to the area; they already operated Mercy Rehabilitation Hospital Oklahoma City (50 beds), which opened in 2012 in the northwest part of the city. Both hospitals operated by the JV serve patients recovering from stroke and other long-term illnesses or injuries.
It looks like Kindred is trying to create a diverse flow of services and operations. Back in June, in an effort to boost the Kindred Behavioral Health brand, Kindred Healthcare added two behavioral health hospitals, WellBridge Greater Dallas and WellBridge Fort Worth from WellBridge Healthcare. Each hospital has 48 licensed beds.
