Joint venture will construct and operate a 60-bed hospital in
Tacoma, Washington
LOUISVILLE, Ky. & TACOMA, Wash.--(BUSINESS WIRE)--Jul. 28, 2016--
Kindred Healthcare, Inc. (“Kindred”) (NYSE: KND) today announced that it
has signed a definitive agreement with CHI Franciscan Health (“CHI
Franciscan”) to create a joint venture to construct and operate a 60-bed
inpatient rehabilitation hospital in Tacoma, Washington, which is
located in Kindred’s Seattle integrated care market. The project
recently received Certificate of Need approval from the Washington State
Department of Health.
Kindred will manage the day-to-day operations of the new hospital.
Subject to several regulatory and other approvals, Kindred expects the
hospital to open by the first quarter of 2018. The new hospital will
care for adults recovering from conditions such as stroke, neurological
disease, injury to the brain or spinal cord and other long-term
illnesses or injuries.
In its Seattle integrated care market, Kindred operates two transitional
care hospitals, two nursing centers, two co-located hospital-based
sub-acute units, and provides home health and hospice services. CHI
Franciscan is affiliated with Catholic Health Initiatives, the
third-largest nonprofit health system in the United States with
operations in 19 states. CHI Franciscan provides health services in the
Pacific Northwest.
“We look forward to a strong partnership with CHI Franciscan as we
develop a new inpatient rehabilitation hospital that complements CHI
Franciscan’s acute care settings and highly regarded reputation for
helping patients recover and return home,” said
Benjamin A. Breier
,
Kindred’s President and Chief Executive Officer. “Kindred is proud of
partnerships, such as this, with some of the nation’s leading health
systems because they recognize how our post-acute expertise and
patient-centered care model help drive efficiencies and clinical
integration. These collaborative efforts deliver the best in patient
care and have helped our inpatient rehabilitation business outperform
peers in key clinical measures.”
“Care for patients needing long-term rehabilitation care has hit a
tipping point in Pierce County,” said
Ketul Patel
, CHI Franciscan’s
Chief Executive Officer. “Our partnership with Kindred is a giant step
toward meeting that critical need. This partnership is important in
terms of partnering with a leading provider of post-acute care services
to join with our full continuum of healthcare services, to provide our
communities with the right care where and when they need it.”
About Kindred Healthcare
Kindred Healthcare, Inc., a top-90 private employer in the United
States, is a FORTUNE 500 healthcare services company based in
Louisville, Kentucky with annual revenues of approximately $7.2 billion(1).
At March 31, 2016, Kindred through its subsidiaries had approximately
102,000 employees providing healthcare services in 2,700 locations in 46
states, including 95 transitional care hospitals, 19 inpatient
rehabilitation hospitals, 92 nursing centers, 20 sub-acute units, 618
Kindred at Home home health, hospice and non-medical home care sites of
service, 104 inpatient rehabilitation units (hospital-based) and a
contract rehabilitation services business, RehabCare, which served 1,752
non-affiliated sites of service. Ranked as one of Fortune magazine’s
Most Admired Healthcare Companies for seven years, Kindred’s mission is
to promote healing, provide hope, preserve dignity and produce value for
each patient, resident, family member, customer, employee and
shareholder we serve. For more information, go to www.kindredhealthcare.com. You can also follow us on Twitter and Facebook.
About CHI Franciscan Health
CHI Franciscan Health is a nonprofit health system based in Tacoma,
Washington with a team of nearly 12,000 doctors, nurses and staff that
provide expert, compassionate medical care at eight acute care hospitals
and more than 100 primary and specialty care clinics in Pierce, King and
Kitsap counties. This includes St. Anthony Hospital, Gig Harbor; St.
Clare Hospital, Lakewood; St. Elizabeth Hospital, Enumclaw; St. Francis
Hospital, Federal Way; St. Joseph Medical Center, Tacoma; Harrison
Medical Center, Bremerton and Silverdale; Highline Medical Center,
Burien; and Regional Hospital, Burien. Started in 1891 by the Sisters of
St. Francis of Philadelphia, today CHI Franciscan Health is one of the
largest health systems in Washington state. The system spans more than
1,100 acute care beds, a credentialed medical staff of more than 1,500
including more than 550 employed physicians providing specialties in
cardiovascular care, cancer care, orthopedics and sports medicine,
neurosciences and women’s care. CHI Franciscan’s mission focuses on
creating healthier communities, including caring for the poor and
underserved. In 2015, the organization provided $141 million in
community benefit, including $10 million in charity care. More
information: www.chifranciscan.org.
________________
(1) Revenues based upon Kindred
consolidated revenues for the twelve months ended March 31, 2016.
Source: Kindred Healthcare, Inc.
Kindred Healthcare, Inc.
Susan E. Moss, 502-596-7296
Senior
Vice President, Marketing and Communications
susan.moss@kindred.com
or
CHI
Franciscan Health
Scott Thompson, 253-382-3889
Media Relations
Specialist
scottthompson@chifranciscan.org