Kindred sells 54 facilities
Kindred Healthcare took a big first step toward selling off its remaining skilled nursing facilities in late August.
The first closing included 54 skilled nursing facilities in 10 states, bringing the provider around $519 million in proceeds from the buyer, an affiliate of BlueMountain Capital Management.
The remainder of Kindred's closings are expected to occur in phases through December.
Kindred's skilled nursing exit will include the sale of nearly 90 nursing facilities and seven assisted living facilities across 18 states, with a total of 11,500 employees.