Saturday, October 8, 2016
Kindred sold twelve long term acute care hospitals to Curahealth for $27.5 million in an optimatization move. The company will write down $99 million to $109 million in assets, netting a $37 million future income tax benefit. Even after the tax break for selling facilities at a loss Kindred will be $34.5 million to $44.5 million in the hole on the dozen LTACs. Management can spin it as a win, but it's clearly a loss.
What does this latest financial hit mean for the lowly employee? How much worse will Kindred benefits become in order for executive pay to grow? We'll know sometime in November.
Anonymous from Optimized Kindred