The nursing home continues to profit despite their complaints about adjustments in reimbursements from Medicare and Medicaid. Kindred Healthcare’s RehabCare contract therapy division is holding steady. Kindred reported overall consolidated revenues up by 1% to $1.5 billion and operating income at close to $200 million. The company acquired RehabCare in June 2011. Kindred’s hospital division revenues grew 4%, and the company continues to dig into home health and hospice, with its recent IntegraCare acquisition adding $71 million in annual revenue.
Skilled Healthcare reported revenue of $216.6 million, beating expectations. Ventas REIT also had a strong third quarter with net income up 8.7%. That was largely a result of $1.7 billion in acquisitions in 2012.