LOUISVILLE, Ky. (AP) — Kindred Healthcare Inc. said Tuesday that it completed its purchase of home health care provider and hospice company IntegraCare Holdings.
Kindred agreed to buy IntegraCare from private equity firm Flexpoint Ford LLC on Aug. 20. It agreed to pay Flexpoint $71 million in cash and may make an additional $4 million payment based on IntegraCare's earnings growth in 2013.
IntegraCare has 47 home health, hospice, and community service locations in Texas, and Kindred said the deal will expand its business in Houston, Dallas and Southern markets.
Kindred Healthcare runs 118 long-term acute care hospitals, 224 nursing and rehabilitation centers, and its RehabCare unit provides services to 1,600 other facilities.
Shares of Kindred Healthcare rose 4 cents to $11.20 in morning trading. They are up 47 percent from their 52-week low of $7.60 on late April. They peaked for the past year at $13.62 per share in early February.