Kindred Strikes Deal for 36-Facility Sale

Kindred Healthcare Inc. has entered into agreements with Ventas Inc. to sell its portfolio of owned and leased nursing centers. The portfolio includes 36 skilled nursing facilities the company currently leases from Ventas. The agreement gives the company the option to acquire all the Ventas properties for an aggregate price of $700 million. The company also has the option to find one or more buyers for the Ventas properties.

The Louisville, KY-based seller is targeting the end of 2018 as the completion of its exit from skilled nursing. “With the option to cause the sale of the Ventas Properties, we have the flexibility to pay Ventas as we sell these properties, in conjunction with the sale of our other nursing center assets,” said Kindred president and CEO Benjamin A. Breier.

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