Kindred Healthcare, Inc. recently announced that its subsidiary has acquired the assets of Synergy Home Health Care, Inc. in a transaction with undisclosed financial terms.
Kindred used its operating cash flows and proceeds from its revolving credit facility to finance the transaction, and did not assume any of Synergy’s liabilities or debt in the transaction.
Synergy has two locations in Marlborough and Weymouth, Mass., and currently generates annualized revenues of approximately $5 million. Kindred currently operates 25 nursing and rehabilitation centers and five long-term acute care hospitals within Synergy’s service area of Boston, Mass.
“We are excited about the opportunities provided by our growing home health and hospice business to expand our continuum of post-acute care services and to continue the care for our patients and residents in several of our key cluster markets,” said Paul Diaz, president and CEO of Kindred, in a statement. “Synergy provides substantial overlap with our existing healthcare operations in the Boston market.”
Written by Alyssa Gerace