Kindred to draw on revolver for Professional HealthCare purchase

By Sara Rosenberg

New York, Aug. 11 - Kindred Healthcare Inc. plans on using borrowings under its revolving credit facility and cash on hand to fund its $51 million acquisition of Professional HealthCare LLC, according to a news release.

Closing is expected by the end of the third quarter, subject to regulatory approvals and other conditions.

Kindred Healthcare is a Louisville, Ky.-based health care services company. Professional HealthCare is an Annandale, Va.-based provider of home health, hospice, private duty nursing services and durable medical equipment.

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