LOUISVILLE, Ky.--(BUSINESS WIRE)--Feb. 9, 2005--Kindred Healthcare, Inc. (the "Company") (NYSE:KND) today announced that its pharmacy subsidiary ("KPS") has signed a definitive agreement to acquire the assets of Pharmacy Partners, Inc. ("PPI"). PPI operates two long-term care pharmacies servicing primarily nursing facilities and assisted living facilities in southeastern Pennsylvania. The business being acquired currently generates revenues of approximately $35 million on an annualized basis and serves approximately 7,800 customer beds. The financial terms of the transaction were not disclosed. The final closing is expected to take place by the end of February and is subject to customary conditions to closing. The Company expects that the transaction will be accretive to earnings in 2005 and beyond.
