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SOURCE Vibra Healthcare, LLC
Completion of Combined Purchase of Hospitals and Facilities, Increases Vibra Licensed Beds to 2,919
MECHANICSBURG, Pa., Sept. 25, 2013 /PRNewswire/ -- Vibra Healthcare, LLC ("Vibra") today announced that through an affiliate it has completed the purchase of 2 hospitals from Kindred Healthcare, Inc. ("Kindred") for $20.7 million. Vibra previously announced the purchase of 14 specialty hospitals and facilities from Kindred for $168.5 million on September 2, 2013. With the closing of these two additional specialty hospitals, Vibra has completed all of its planned acquisitions with Kindred.
The combined purchase of 16 specialty hospitals and facilities by Vibra consist of 14 long-term acute care (LTAC) hospitals, one inpatient medical rehabilitation hospital (IRF) and one skilled nursing facility (SNF). The two LTAC hospital purchases announced today are located in Milwaukee, Wisconsin and Victoria, Texas and will be operated by Post Acute Medical of Camp Hill, Pennsylvania an affiliate of Vibra.
"By completing the transaction Vibra has added 16 hospitals and facilities to its post-acute care network creating synergy in markets that expand our ability to meet and deliver the growing post-acute care needs of our patients. Additionally, with this acquisition, we are confident that our long term strategic operations, clinical and development objectives will be met while immediately adding growth and value to the company," said Brad Hollinger, Vibra's Founder, Chairman and Chief Executive Officer.
About Vibra Healthcare
Vibra Healthcare, LLC is a hospital provider based in Mechanicsburg, Pa focused on the development, acquisition and operation of freestanding Long Term Acute Care (LTAC) hospitals, Inpatient Medical Rehabilitation Hospitals (IRF's) and outpatient physical rehabilitation centers. Teams of highly trained specialists lead clinical programs at Vibra's specialty hospitals for medically complex patients who suffer from major orthopedic, neurologic, stroke, multiple trauma, cardiac and respiratory conditions. Vibra and its affiliates currently employ over 9,300 employees and own and operate over 90 specialty hospitals, transitional care units/facilities and hospital-based outpatient physical therapy locations in 18 states. For additional information about Vibra Healthcare and its network of specialty hospitals please visit our website at http://www.vibrahealthcare.com.
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