Kindred Healthcare, Inc. (KND) said it agreed to buy IntegraCare Holdings, Inc., a portfolio company of private equity firm Flexpoint Ford, LLC, for a purchase price of $71 million in cash plus a potential $4 million cash earn out based on 2013 earnings. The company expects to finance the transaction with operating cash flows and proceeds from its revolving credit facility. IntegraCare will have no outstanding long-term debt at closing.
Kindred Healthcare anticipates the transaction to be slightly accretive to earnings in 2012 and $0.07 to $0.09 per share accretive to earnings in 2013.
The company expects to achieve annualized synergies of approximately $1.5 million once the integration of IntegraCare is fully completed in 2013.
The deal is expected to close by the end of the third quarter of 2012.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.