Profile: Kindred Healthcare Inc (KND)
14 Mar 2014
Kindred Healthcare, Inc., incorporated on March 27, 1998, is a healthcare services company that through its subsidiaries operates transitional care (TC) hospitals, inpatient rehabilitation hospitals (IRFs), nursing and rehabilitation centers, assisted living facilities, a contract rehabilitation services business and a home health and hospice business across the United States. The Company operates in five divisions: the hospitals, skilled nursing and rehabilitation centers, skilled nursing rehabilitation services, skilled nursing rehabilitation services, hospital rehabilitation services, and home health and hospice services. At December 31, 2012, the Company’s hospital division operated 116 TC hospitals and six IRFs in 26 states. The Company’s nursing center division operated 223 nursing and rehabilitation centers and six assisted living facilities in 27 states. The Company’s rehabilitation division provided rehabilitation services primarily in hospitals and long-term care settings. The Company’s home health and hospice division provided home health, hospice and private duty services from 101 locations in ten states. In September 2012, its subsidiary acquired IntegraCare Holdings, Inc. In October 2013, the Company acquired TherEX, Inc. In December 2013, the Company announced that it has completed the acquisition of Senior Home Care Inc. In February 2014, the Company's subsidiaries completed the acquisition of real estate associated with two nursing centers which it leases from HCP.
The Company’s hospital division provides long-term acute care services to medically complex patients. As December 31, 2012, the Company’s hospital division operated 116 TC hospitals with 8,382 licensed beds and six IRFs with 259 licensed beds in 26 states. It operates the network of LTAC hospitals and IRFs in the United States. The Company operates the network of TC hospitals and IRFs in the United States based upon number of facilities. A number of the hospital division’s hospitals also provide skilled nursing, sub-acute and outpatient services. Outpatient services may include diagnostic services, rehabilitation therapy, computerized tomography (CT) scanning, one-day surgery and laboratory. In its TC hospitals, the Company treats medically complex patients, including the critically ill, suffering from multiple organ system failures, most commonly of the cardiovascular, pulmonary, kidney, gastro-intestinal and cutaneous (skin) systems. During 2012, the average length of stay for patients in our hospitals was approximately 27 days. Its IRFs provide services to patients who require intensive inpatient rehabilitative care. Its IRFs provide an interdisciplinary approach to treatment that leads to a higher level of care and superior outcomes. The medical, nursing, therapy, and ancillary services provided by its IRFs comply with local, state, and federal regulations, as well as other accreditation standards.
NURSING CENTER DIVISION
As of December 31, 2012, the Company’s nursing center division operated 223 nursing and rehabilitation centers (27,142 licensed beds) and 6 assisted living facilities (341 licensed beds) located in 27 states. Through its nursing and rehabilitation centers, it provides short stay patients and long stay residents with a range of medical, nursing, rehabilitative, pharmacy and routine services, including daily dietary, social and recreational services. It operates transitional care units at 95 of its nursing and rehabilitation centers. These units within its nursing and rehabilitation centers typically consist of 20 to 50 beds offering skilled nursing services and a range of rehabilitation services, including physical, occupational and speech therapy to patients recovering from a variety of surgical procedures as well as stroke, and cardiac and respiratory ailments. At a number of the Company’s nursing and rehabilitation centers, it offers specialized programs for residents with Alzheimer’s disease and other dementias through its Reflections units. It has developed specific certification criteria for these units.
The Company’s rehabilitation division provides rehabilitation services, including physical and occupational therapies and speech pathology services, to residents and patients of nursing centers, acute and TC hospitals, outpatient clinics, home health agencies, assisted living facilities, school districts and hospice providers under the name RehabCare. It is organized into two operating segments: skilled nursing rehabilitation services (SRS) and hospital rehabilitation services (HRS). Its SRS operations provide contract therapy services primarily to freestanding skilled nursing centers. As of December 31, 2012, our SRS segment provided rehabilitative services to 1,726 nursing centers in 44 states. Its HRS operations provide program management and therapy services on an inpatient basis in hospital-based inpatient rehabilitation units, long-term acute care (LTAC) hospitals, sub-acute (or skilled nursing) units, as well as on an outpatient basis to hospital-based and other satellite programs. As of December 31, 2012, its HRS segment operated 105 hospital-based inpatient rehabilitation units and provided rehabilitation services in 123 LTAC hospitals, 21 sub-acute (or skilled nursing) units, and 119 outpatient clinics.
As of December 31, 2012, SRS managed 1,726 contract therapy programs. SRS provides specialized rehabilitation programs designed to meet the individual needs of the residents and patients it serves. Its specialized care programs address complex medical needs, such as wound care, pain management, and cognitive retraining, in addition to programs for neurologic, orthopedic, cardiac and pulmonary conditions, such as stroke, fractures and other orthopedic conditions. It also provide clinical education and programming.
The Company’s HRS operations provide program management and therapy services on an inpatient basis in hospital-based inpatient rehabilitation units, LTAC hospitals, sub-acute (or skilled nursing) units, as well as on an outpatient basis to hospital-based and other satellite programs. It is an operator of hospital-based inpatient rehabilitation units on a contract basis. As of December 31, 2012, the Company managed or operated 105 hospital-based inpatient rehabilitation units. The hospital-based inpatient rehabilitation units it operates provide acuity rehabilitation for patients recovering from strokes, orthopedic conditions and head injuries.
The Company provides rehabilitation and program management services, including physical and occupational therapies and speech pathology services, to LTAC hospitals. It provides specialized care programs that support patients with medical needs, such as wound care, pain management and cognitive deficits, in addition to programs for neurologic, orthopedic, cardiac and pulmonary recovery. As of December 31, 2012, the Company operated therapy programs in 123 LTAC hospitals. It also manage outpatient therapy programs that provide therapy services to patients with a variety of orthopedic and neurological conditions that may be related to work or sports injuries. As of December 31, 2012, we managed or operated 119 hospital-based and satellite outpatient therapy programs.
HOME HEALTH AND HOSPICE DIVISION
The Company’s home health and hospice division provides home health, hospice and private duty services to patients in a variety of settings, including homes, skilled nursing facilities and other residential settings. As of December 31, 2012, the Company’ s home health and hospice division operated 101 locations in 10 states, employing approximately 4,300 care givers to serve the needs of over 8,700 patients on a daily basis. Its home health operations offer medical care and other services to patients in their homes or other residential settings. It services include nursing, physical, occupational and speech therapies, and medical social work. Its hospice operations provide a family-oriented model of care designed to meet the spiritual, emotional and physical needs of terminally ill patients and their families. Hospice services are provided in the home or in other settings, such as nursing centers, assisted living facilities and hospitals. Its private duty services include personal care (bathing and grooming), meal preparation, light housekeeping, respite care and transportation.
Kindred Healthcare Inc
680 SOUTH FOURTH STREET
LOUISVILLE KY 40202