MECHANICSBURG, Pa., June 1, 2016 /PRNewswire/ -- Select Medical Holdings Corporation ("Select") (NYSE: SEM) today announced that it has partially completed its previously announced transaction to exchange long term acute care hospitals with Kindred Healthcare, Inc. ("Kindred") (NYSE: KND). Select has transferred hospitals in Indianapolis, IN, Houston, TX (Select Specialty Hospital - Houston Medical Center), Denver, CO and Colorado Springs, CO to Kindred. Kindred has transferred two hospitals in Cleveland, OH to Select. Kindred will not transfer a hospital in Mishawaka, IN to Select as previously announced. The previously announced transfers of Kindred's hospital in Atlanta, GA to Select, and Select's hospital in San Antonio, TX to Kindred, will be delayed pending satisfaction of closing conditions set forth in the exchange agreement.
Select Medical began operations in 1997 and has grown to be one of the largest operators of specialty hospitals, outpatient rehabilitation clinics and occupational health centers in the United States based on the number of facilities. As of March 31, 2016, Select Medical operated 109 long term acute care hospitals and 18 acute medical rehabilitation hospitals in 27 states and 1,615 outpatient rehabilitation clinics in 37 states and the District of Columbia. Select Medical's joint venture subsidiary Concentra operated 301 centers in 39 states. Concentra also provides contract services at employer worksites and Department of Veterans Affairs community-based outpatient clinics. At March 31, 2016, Select Medical had operations in 46 states and the District of Columbia. Information about Select Medical is available at www.selectmedical.com.