Promise Hospital of East Los Angeles has been purchased by Louisville-based Kindred Healthcare, a healthcare services company that operates long-term acute-care hospitals and provides rehabilitation services across the United States.
Terms of the transaction were not disclosed.
Promise Hospital of East Los Angeles, which is based in Paramount, was renamed Kindred Hospital Paramount.
Promise Hospital Kindred Hospital, which is a 177-bed hospital specializing in long-term acute care services for respiratory care, advanced wound care and rehabilitation therapies, was formerly owned by Promise Healthcare Group.
With the addition of Kindred Hospital Paramount, Kindred operates a dozen long-term acute care hospitals in the Southern California market, said Kindred President and Chief Executive Benjamin Breier.
Kindred generated $3.3 billion in revenue last year,
Finance reporter Pat Maio can be reached at firstname.lastname@example.org or (323) 556-8329.