LifePoint Health signed a definitive agreement to acquire Kindred Healthcare, the for-profit health systems announced Monday.
The transaction would create a massive national health system that combines LifePoint’s 87 hospitals with Kindred’s vast post-acute footprint. LifePoint plans to invest $1.5 billion in Kindred over the next three years.
“Kindred’s focus on healing and hope, provided through its long-term acute care hospitals, rehabilitation centers and most recently its behavioral health services – an important and growing need across the country – is highly complementary to the current LifePoint network,” LifePoint CEO David Dill said in prepared remarks.
The deal is expected to close in the fourth quarter.