Kindred Healthcare, Inc.: Update to Credit Analysis
Kindred's credit profile is constrained by its high leverage and Medicare reimbursement risk. These risks are balanced by the company's good business diversity and large scale.Kindred Healthcare is a healthcare services company, which operates a home health, hospice and community care business, transitional care hospitals, inpatient rehabilitation hospitals (IRFs), a contract rehabilitation services business, nursing centers, and assisted living facilities. The company has four divisions: the Kindred at Home, which provides home health, hospice, and community care services; the hospital, which provides long-term acute care services; the Kindred Rehabilitation Services, which operates IRFs, manages hospital-based acute rehabilitation units and provides rehabilitation services; and the nursing center, which operates nursing centers and assisted living facilities.
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