Two of the nation’s largest post-acute care providers are forging a “strategic clinical collaboration,” through which they intend to offer complementary, coordinated services. The relationship between Genesis HealthCare (NYSE: GEN) and Kindred Healthcare (NYSE: KND) is the first of its kind in the post-acute space, Genesis CEO George V. Hager said in a press release issued Tuesday. “I am excited to embark on this new groundbreaking clinical relationship with Kindred,” Hager stated. Genesis is one of the largest skilled nursing operators in the country, with about 500 skilled nursing facilities (SNFs) and assisted/senior living communities in 34 states. Kindred used to be a competitor in the SNF space, but in November announced that it is exiting that industry, to double-down on its other divisions, including long-term acute care hospitals (LTACHs), inpatient rehabilitation facilities (IRFs), and home health and hospice. Kindred became the largest home health provider in the nation after acquiring Gentiva Health for $1.8 billion in 2014. Kindred would closely partner with other SNF providers going forward, CEO Benjamin Breier said in November when announcing the company’s departure from the skilled nursing field. Now, Genesis is officially moving into this role of close partner.
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