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January 7, 2013
17:36 EDTKNDKindred Healthcare reaffirms FY13 cash flow $230M-$250M
The company re-affirmed its operating cash flow guidance for 2013 at a range between $230M- $250M. Estimated routine capital expenditures for 2013 are expected to range from $120M-$130M, unchanged from previous guidance. In addition to its routine capital expenditures, the company re-affirmed that its development of new or replacement transitional care hospitals, transitional care centers, and inpatient rehabilitation hospitals will approximate $20M-$30M in 2013. Operating cash flows in excess of the company's routine and development capital spending programs, which are expected to remain at approximately $90M for 2013, will be available to repay debt and fund acquisitions.
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February 9, 2016
17:05 EDTKNDKindred acquires Control licenses in South Carolina for home health services
Kindred acquired from the South Carolina Department of Health and Environmental Control licenses to provide home health services in all 46 counties in South Carolina for approximately $18M. Kindred reached an agreement with DHEC following a state bidding process. The agreement took effect January 1, 2016, and immediately expands Kindred's services from 10 offices serving 22 counties to 19 offices serving the entire state of South Carolina. As part of the license transfer agreement, Kindred agreed to hire all employees and agreed to take over patients upon consent. Upon completion, 72 employees accepted the Company's offer of employment and 650 patients granted consent to the Company's care. With this platform, Kindred intends to open additional offices and expand its home health services in the state. The Company has been providing home health services in South Carolina since it acquired Gentiva Health Services in February 2015.
17:02 EDTKNDKindred Healthcare expands its home health operations
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