Kindred Scores $519 Million In First Closing Of Skilled Nursing Exit

September 5, 2017, Emily Mongan, McKnight's Long-Term Care News - Kindred Healthcare has sold off the first batch of skilled nursing facilities as part of its exit from the sector, the company announced on Thursday.  The first closing included 54 skilled nursing facilities in 10 states, bringing the provider around $519 million in proceeds.

Twenty-two of those facilities were leased from Ventas, which carried a price tag of $488 million, the real estate investment trust said in its own announcement.  The facilities are being sold to an affiliate of BlueMountain Capital Management.

The remainder of Kindred's closings are subject to customary and regulatory conditions, the provider noted, and are expected to occur in phases until the end of 2017.

In total, Kindred's skilled nursing exit will ........ CLICK HERE TO READ MORE