Kindred Healthcare, Inc. (NYSE: KND)
Founded in 1998, Kindred Healthcare is one of the largest long-term health care providers in the US. Kindred owns some of its facilities, but operates most of them under lease agreements with Ventas and other third parties. Kindred also operates a contract rehabilitation therapy business, which serves its own and other long-term care facilities, through its Peoplefirst Rehabilitation division.
Kindred, a healthcare services company, operates hospitals, nursing centers and a contract rehabilitation services business across the United States through its subsidiaries. Kindred also operates a contract rehabilitation services business that provides rehabilitative services primarily in long-term care settings.
Kindred's health services division, which accounts for more than 40% of sales, operates nursing home facilities and provides specialized treatment for certain diseases such as Alzheimer's. Kindred also provides rehabilitative care, often through contracts with Kindred's own rehabilitation division. (About 75% of the rehab unit's sales come from such contracts.)
The company's hospital division includes both freestanding hospitals and "hospitals-within-hospitals", which are co-located with short-term acute care facilities and sometimes receive patients as they are discharged from the host facility. All of Kindred's hospitals care for patients with complex medical conditions: those who are recovering from major surgery, are experiencing multiple organ failure, or have brain or spinal cord injuries, for instance.
Medicare and Medicaid reimbursements make up nearly three-fourths of Kindred's revenue, and the company is looking for ways to increase admissions (particularly in its hospital division) of patients with commercial insurance, which reimburses at higher rates.