ScovilleUnits
14 years ago
32 National Quality Awards
Kindred Healthcare Announces 32 Recipients of National Quality Awards
Thursday , July 22, 2010 17:00ET
LOUISVILLE, Ky.--(BUSINESS WIRE)--
Kindred Healthcare, Inc. (the "Company") (NYSE:KND) today announced that 31 of its nursing and rehabilitation centers and one assisted living facility have been named recipients of a 2010 American Health Care Association and National Center for Assisted Living ("AHCA/NCAL") Quality Award for demonstrating a strong commitment to quality improvement.
The AHCA/NCAL National Quality Award Program is based on the core values and criteria of the Malcolm Baldrige National Quality Award Program, the nation's premier recognition for quality achievement. AHCA/NCAL Quality Awards consist of an entry level Bronze - Commitment to Quality Award; a more rigorous Silver - Achievement in Quality Award; and the Gold - Excellence in Quality Award, which requires applicants to address the Baldrige Program's Health Care Criteria for Performance Excellence in its entirety. Recipient facilities have made quality outcomes and customer satisfaction top priorities.
Eight of the Company's nursing and rehabilitation centers and one assisted living facility are recipients of a Silver Award. All nine facilities have previously received a Bronze Award. They are:
Parkway Pavilion Healthcare in Enfield, Connecticut,
Windsor Rehabilitation and Healthcare Center in Windsor, Connecticut,
Brentwood Rehabilitation and Nursing Center in Yarmouth, Maine,
Forestview Nursing Home of Wareham in Wareham, Massachusetts,
Ledgewood Rehabilitation and Skilled Nursing Center in Beverly, Massachusetts,
Oakwood Rehabilitation and Nursing Center in Webster, Massachusetts,
The Village at Laurel Lake in Lee, Massachusetts,
Greenbriar Terrace Healthcare in Nashua, New Hampshire, and
Loudon Healthcare Center in Loudon, Tennessee.
In addition, 23 of the Company's nursing and rehabilitation centers are recipients of a Bronze Award. They are:
Specialty Healthcare and Rehabilitation Center of Mobile in Mobile, Alabama,
Hacienda Rehabilitation and Care Center in Sierra Vista, Arizona,
Bayberry Care Center in Concord, California,
Fifth Avenue Health Care Center in San Rafael, California,
Greenbrae Care Center in Greenbrae, California,
Santa Cruz Healthcare Center in Santa Cruz, California,
Smith Ranch Care Center in San Rafael, California,
Aurora Care Center in Aurora, Colorado,
Brighton Care Center in Brighton, Colorado,
Lafayette Nursing and Rehab Center in Fayetteville, Georgia,
Weiser Rehabilitation and Care Center in Weiser, Idaho,
Indian Creek Health and Rehabilitation Center in Corydon, Indiana,
Den-Mar Rehabilitation and Nursing Center in Rockport, Massachusetts,
Goddard Rehabilitation and Nursing Center in Stoughton, Massachusetts,
Walden Rehabilitation and Nursing Center in Concord, Massachusetts,
Las Vegas Healthcare and Rehabilitation Center in Las Vegas, Nevada,
Pickerington Nursing and Rehabilitation Center in Pickerington, Ohio,
The LakeMed Nursing and Rehabilitation Center in Painesville, Ohio,
Sunnyside Care Center in Salem, Oregon,
Crosslands Rehabilitation and Healthcare Center in Sandy, Utah,
Federal Heights Rehabilitation and Nursing Center in Salt Lake City, Utah,
Vancouver Health and Rehabilitation Center in Vancouver, Washington, and
Sage View Care Center in Rock Springs, Wyoming.
"These awards reflect our continued emphasis on investing in our people and quality improvement at all levels of our organization," said Paul J. Diaz, President and Chief Executive Officer of the Company. "One of the keys to our success is a commitment to quality and improving clinical outcomes, which are the key drivers of our business strategy."
"Since 2003, 196 of our 222 nursing and rehabilitation centers and three of our six assisted living facilities, or over 85% of our portfolio, have received a Bronze Award," said Lane M. Bowen, Executive Vice President and President of the Company's Health Services Division. "In addition, 18 of our facilities have gone on to receive a Silver Award, which reflects their continued dedication to quality improvement."
ScovilleUnits
15 years ago
KND Acquires 6 under-Performing Assets from [VTR] Ventas, Inc.
8-K ~ http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6400986
Kindred Healthcare Completes Acquisition of Six under-Performing Assets from Ventas, Inc.
Tuesday , June 30, 2009 17:30ET
LOUISVILLE, Ky., Jun 30, 2009 (BUSINESS WIRE) -- Kindred Healthcare, Inc. (the "Company") (NYSE:KND) today announced that it has completed the previously announced acquisition of the real estate related to six under-performing nursing centers (the "Nursing Centers") previously leased from Ventas, Inc. ("Ventas") (NYSE:VTR) for $55.7 million. In addition, the Company will pay a lease termination fee of $2.3 million. The annual rents for the Nursing Centers were approximately $6 million.
The Nursing Centers, which contain 777 licensed beds, generated pretax losses of approximately $3 million for the year ended December 31, 2008 and approximately $2 million for the three months ended March 31, 2009. The Company expects to account for the operations of the Nursing Centers and the loss on these transactions as discontinued operations when it reports its operating results for the second quarter ended June 30, 2009.
The Company intends to dispose of the Nursing Centers as soon as practicable. The Company expects to generate approximately $15 million to $20 million in proceeds from the sale of the Nursing Centers and the related operations. The Company expects to record a net loss of approximately $27 million to $31 million in the second quarter of 2009 relating to these divestitures.
ScovilleUnits
15 years ago
Kindred Healthcare Ranked First among Health Care: Medical Facilities in Fortune Magazine's List of Most Admired Companies
Monday , March 02, 2009 17:19ET
LOUISVILLE, Ky., Mar 02, 2009 (BUSINESS WIRE) -- Kindred Healthcare, Inc. (the "Company" or "Kindred") (NYSE:KND), the largest post-acute provider in the United States, today announced that it was named by Fortune magazine as the Most Admired company in the category of "Health Care: Medical Facilities."
The Most Admired list is the definitive report card on corporate reputations. Fortune magazine ranks companies within 64 industries, based on nine different "attributes of reputation." Kindred is ranked first in five of the nine attributes, including people management, use of corporate assets, social responsibility, and financial soundness. To create the industry rankings, surveys were sent to over 4,000 executives, directors, and analysts to rate companies within their own industry.
In addition, the Company's support center was recently named one of the Top 25 Best Places to Work in Kentucky. This is the third year in a row the Company received the designation.
"These honors were earned by our 53,700 caregivers and support center colleagues," said Paul J. Diaz, President and Chief Executive Officer of the Company. "As everyone in the country struggles to pull through these difficult economic times, we will continue to advance our core strategy that taking care of our people, and focusing on the quality of our services, drives our business results."
Mr. Diaz went on to comment on President Obama's plans for healthcare reform. "As a provider of healthcare for over 33,600 patients and residents each day, and as an employer of thousands of people in 40 states, we support the President's priority to reform the healthcare system. Post-acute providers, like Kindred Healthcare, are an important part of improving the efficiency and effectiveness of the nation's healthcare delivery system and we look forward to actively participating in the public policy process to advance healthcare reform."
About Kindred Healthcare
Kindred Healthcare, Inc. is a healthcare services company, based in Louisville, Kentucky, with annual revenues of over $4 billion and approximately 53,700 employees in 40 states. At December 31, 2008, Kindred through its subsidiaries provided healthcare services in 655 locations, including 82 long-term acute care hospitals, 228 skilled nursing centers and a contract rehabilitation services business, Peoplefirst rehabilitation services, which served 345 non-affiliated facilities. Kindred's mission is to promote healing, provide hope, preserve dignity and produce value for each patient, resident, family member, customer, employee and shareholder we serve. For more information, go to www.kindredhealthcare.com.
SOURCE: Kindred Healthcare, Inc.
Kindred Healthcare, Inc.
Susan E. Moss, 502-596-7296
Vice President, Communications
Copyright Business Wire 2009
ScovilleUnits
15 years ago
Kindred Healthcare is a Zacks #1 Rank (strong buy) stock.
http://www.zacks.com/commentary/10115/Kindred+Healthcare,+Inc.
Kindred Healthcare, Inc. (KND)
By Tracey Ryniec
Feb 24, 2009
Kindred Healthcare, Inc. (KND), the healthcare provider, saw its hospital business jump in the fourth quarter as the company surprised on estimates by 47.37%. Kindred has beat estimates 3 out of the last 4 quarters by an average of 37.22%. KND is trading at 12x forward earnings.
Company Description
Kindred Healthcare provides healthcare in over 40 states at 655 locations, including 82 long-term acute care hospitals, 228 skilled nursing centers and contract rehabilitation services called Peoplefirst.
Revenue Jumped 5% in the Fourth Quarter
On Feb 19, Kindred Healthcare reported fourth-quarter 2008 earnings that surprised on Wall Street estimates by 47.37%. Net income rose 11% to $21.8 million from $19.6 million. Earnings per share were 56 cents compared 51 cents in the fourth-quarter of 2007. Analysts expected only 38 cents.
Revenue increased 5% to $1.1 billion compared to $1.0 billion in 2007. All three of the company's divisions saw gains in the quarter.
"In our hospital business, favorable rates and improved revenue mix resulted in better than expected operating margins in the period," said Paul J. Diaz, President and Chief Executive Officer.
"Our nursing centers continued to report stable operating results despite some softness in our Medicare volumes as we again executed on our plan of improving employee retention, our quality indicators and customer satisfaction levels."
"Peoplefirst Rehabilitation reported its eighteenth quarter of sequentially higher revenues as we further expanded our external customer base and improved our cost metrics," he added.
Improved Financial Position
Cash flows more than doubled to $142 million from $63 million in the year ago period. The company had $125 million in cash by the end of 2008. It also had $349 million in outstanding revolving credit borrowings as of Dec 31, 2008.
2009 Outlook
The company issued its 2009 earnings per share in the range of $1.35 to $1.45. Revenue is expected to be approximately $4.4 billion.
First-quarter earnings are forecast in the range of 40 cents to 50 cents per share.
Consensus Estimates Rise
Given the company's guidance, consensus estimates have been rising for the first quarter and full-year 2009.
First quarter earnings rose 2 cents to 41 cents per share in the last 7 days. Full-year 2009 earnings also increased by 2 cents to $1.39 in the last week, which is in the middle of the company's forecast.
Analysts expect 5-year earnings growth of 12.5%.
Value Fundamentals
Kindred Healthcare is a Zacks #1 Rank (strong buy) stock. It is trading with a forward P/E of 11.6. KND has a price-to-book of 0.76.
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