Kindred Healthcare Inc., of Louisville, Ky., will acquire Senior Home Care Inc., which has 47 locations — 19 of them in Louisiana — under a $95 million deal announced Monday.
Senior Home Care, which just six years ago had acquired Baton Rouge-based Synergy Home Care, has annual revenue of about $143 million. Kindred expects to complete the acquisition of Senior Home Care by the end of the year.
Senior’s Louisiana operations include two locations in Baton Rouge and one each in Plaquemine, New Orleans, Covington, Lafayette, Opelousas and Hammond.
Senior Home Care is one of the largest home nursing companies in the Southeast. The company’s services include physical, speech and occupational therapy. Senior Home Care also provides home health aides and skilled nursing.
Kindred is a Fortune 500 company with annual revenue of about $6 billion and 72,000 employees in 46 states. In Louisiana, the company operates Kindred Hospital-New Orleans and has five hospital-based acute rehabilitation units in Senior Home Care’s service area.
Kindred said the acquisition is another important step in expanding the company’s care management division, which includes home health. Kindred at Home has about 200 locations in 13 states and generates more than $350 million in revenue a year.
Senior Home Care acquired Baton Rouge-based Synergy Home Care in April 2007. At the time of the acquisition, Synergy had more than 600 employees in 17 locations. The terms of the deal were not disclosed.
Senior Home Care was owned by funds managed by MTS Health Investors LLC, a private equity firm that invested in health care companies; and a fund managed by Oaktree Capital Management LLC, an investment management firm.