Strange Tony,
Kindred remains in retrenchment mode. Executives shrank the company after their early 2015 spending spree (buying Gentiva and Centerre).
Kindred dumped $1.1 billion in revenue and nearly 19,000 employees from levels shared in the run up to the Gentiva closing.
Kindred chiefs even shrank Kindred at Home which had a high of 656 locations in October 2015. That's down to 609 as of yesterday's news release in which Kindred President Ben Breier said, "We continue to believe that the sale of our skilled nursing facility business will significantly enhance shareholder value, enable us to sharpen our focus on higher margin and faster growing businesses, and further advance our efforts to transform Kindred.” It's hard to see growth anywhere in these Kindred statistics.
However, Kindred's long term debt remained mostly stable.
The nursing home division sale means the rest of Kindred must carry the whole debt burden. Executives were not generous before. Their miserliness will likely continue. Heaven forbid it should increase.
Their challenge is to sell the company's current predicament as outstanding management action, so they can be absurdly rewarded by Kindred's Board of Directors.
Kindred President Breier recently elevated employees to partners in a Wall Street analyst call. Nurses, social workers and counselors have options in today's healthcare landscape. I expect many to walk. The grass may not be greener but hopefully it's less greedy at the top.
Anonymous (from debt bloated Kindred)
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