Kindred Healthcare & Landmark Medical Center Announce Definitive Agreement Forming Joint Venture To Acquire Rehabilitation Hospital Of Rhode Island

Kindred Healthcare, LLC (Kindred) and Landmark Medical Center, a subsidiary of Prime Healthcare, announced a definitive agreement to create a partnership that will own and operate the Rehabilitation Hospital of Rhode Island in North Smithfield, Rhode Island. Kindred will have a 60% ownership interest in the joint venture and Landmark will own 40%. The hospital is licensed for 82 rehabilitation beds.

Under the agreement, Kindred will bring its proven rehabilitation management and services expertise to the existing hospital, which serves patients from across Rhode Island and neighboring Massachusetts. Each year, Kindred Rehabilitation Services treats nearly 50,000 consumers at its . . .