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Kindred, Prime Healthcare joint venture to operate Rhode Island rehabilitation hospital

Louisville, Ky.-based Kindred Healthcare and Landmark Medical Center in Woonsocket, R.I., a subsidiary of Ontario, Calif.-based Prime Healthcare, have entered into a definitive agreement to form a joint venture that would own and operate a rehabilitation hospital. 

Under the deal, which is expected to be finalized in the third quarter of this year, the joint venture will operate The Rehabilitation Hospital of Rhode Island in North Smithfield. The 82-bed hospital, the only stand-alone rehabilitation hospital in the state, was acquired by Prime Healthcare in 2014. 

"We have great respect for the professionals at Landmark and look forward to entering the Rhode Island and greater New England markets in partnership with them," Russ Bailey, COO of Kindred Rehabilitation Hospitals, said in a news release. "This partnership will enable us to expand the services provided and help more patients recover from their illnesses or injuries, restore function and regain the independence needed to get back to their lives."

More articles on healthcare industry transactions:
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HCA to sell hospital, exit Mississippi
Hedge fund makes bid for bankrupt hospital chain

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