LOUISVILLE, Ky. — Louisville-based Kindred Healthcare will soon be under new management once again. LifePoint Health, based in Tennessee, plans to acquire the company later this year.
LifePoint and Kindred Healthcare made the announcement Monday. According to a press release from LifePoint, the combination will bring more services, resources and expertise to patients without increasing costs.
“This combination with LifePoint, one of the leading community healthcare companies in the United States, is a validation of Kindred’s success. Over the last several years, we have transformed Kindred into the nation’s leading specialty hospital company, known for improving outcomes and providing compassionate care for the most medically complex patients,” said Benjamin A. Breier, chief executive officer of Kindred.
Over the next three years, LifePoint says it will invest $1.5 billion into Kindred to improve the personal and professional growth of staff, improve healthcare delivery and increase local access to advanced services.
LifePoint said it will release more details about the acquisition and how it will affect both companies before the transaction is completed by the end of 2021.
Earlier this year, Kindred Healthcare announced plans to build and operate an inpatient rehabilitation hospital in Louisville through a partnership with UofL Health. It's unclear if or how the change in ownership will affect ongoing projects.
In 2018, Humana and 2 private equity firms bought Kindred Healthcare for more than $4 billion. At the time, Kindred had $3.3 billion of long-term debt that the companies planned take on, according to Louisville Business First.
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