Kindred Healthcare CEO Benjamin Breier will step down after the corporate is acquired by LifePoint Well being, the for-profit post-acute care supplier introduced Monday.
LifePoint Well being, a Brentwood, Tennessee-based system that operates 87 hospitals, signed a definitive agreement in June to accumulate Louisville, Kentucky-based Kindred Healthcare, which has 62 long-term care hospitals, 25 inpatient rehabilitation services, greater than 100 acute rehabilitation services and two behavioral well being facilities. The deal is anticipated to shut within the fourth quarter, pending regulatory approvals.
“It has been an honor to guide Kindred and the corporate’s devoted workforce members,” Breier stated in a information launch. “Collectively, we now have constructed Kindred into the nation’s main specialty hospital firm, with a status for delivering compassionate, high quality care that improves affected person outcomes.”
Breier joined Kindred Healthcare in 2005 as president of its rehabilitation division and rose to president of its hospital phase in 2008, chief working officer in 2010 and chief govt in 2015.
Throughout Brier’s years within the prime management function, he oversaw important modifications to the enterprise, together with gathering a bunch of consumers to take the corporate non-public three years in the past, exiting the nursing dwelling market in 2017 and increasing its rehabilitation companies footprint. As well as, the well being insurer Humana and two non-public fairness corporations divided and bought Kindred’s long-term care and residential healthcare operations in 2018.
Lisa Gillespie contributed to this story.
