Kindred Healthcare today agreed to buy IntegraCare Holdings, a Texas hospice and home health company, for $75 million, including a $4 million cash earn out based on 2013 earnings.
The move is expected to increase Kindred’s own hospice and home care portfolio by 47 additional facilities in Texas, cutting the competition in a state where Kindred has maintained a large Houston-based presence.
“We believe that the continued expansion of our continuum of post-acute care services in our key cluster markets supports the growing interest among patients, physicians, hospital systems and public and private payors for high-quality, patient-centered integrated care,” said Kindred’s CEO Paul Diaz in a press statement. “With IntegraCare, our home health and hospice division will have a revenue run rate in excess of
Prior to the acquisition, Kindred's portfolio included 52 home care and hospice locations and 224 nursing and rehabilitation facilities.