Dive Brief:
- Kindred Healthcare CEO Benjamin Breier revealed at the recent Barclays' Global Health Conference that the company plans no further major acquisitions after its $1.8 billion acquisition deal with Gentiva Health Services last year.
- However, Kindred has recently purchased companies in five states to expand its operations in home health, hospice and nursing services, as reported by Louisville Business First.
- One of the recent larger purchases was in South Carolina in the amount of $18 million for licenses from the state's Department of Health to provide home health services in the state's 46 counties.
Dive Insight:
Gentiva accounts for about half of the company's earnings, which Kindred reported rose 40.3% in 2015, compared to the previous year, to $7.1 billion. Earnings per share rose to $1.28 from $1.06. According to the Louisville Business First, both numbers beat analysts' expectations at $7.09 billion for revenue and $1.21 for earnings per share.
Kindred Health also purchased Centerre Healthcare Corporation last year, and Breier said in a company press release the two transactions (Gentiva and Centerra) "added more than $2 billion in revenues, 40,000 employees, and 500 sites of service to our platform."