Kindred sells off more SNFs

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Kindred Healthcare Inc. has sold more of its dwindling supply of long-term care facilities in a new transaction.

Twelve skilled nursing facilities and four assisted living facilities were sold to BlueMountain Capital Management LLC, with proceeds totaling $108 million.

The decision reflects Kindred exiting the skilled nursing facility business for $700 million.

Kindred has said it plans to sell the remainder of its skilled nursing portfolio by the end of 2017.