Rehab Company RehabCare Posts 39% Profit for Q1
RehabCare, a rehab company which is going to be bought by Kindred Healthcare Inc., posted a robust 39% profit in the first three months of 2011. The rehab company's profits increased to $20.8 million, up from $15 million last quarter.
The rehab company operates 35 hospitals, including a number of rehab centers for conditions needed acute are and also has five extensive inpatient rehab facilities. The rehab company which also boasts 1,178 professional nursing locations is in the process of being bought by it bigger rival Kindred Healthcare at a rate of $900 million, which is $35 for every share. The rehab company saw increase in revenue from its hospital division (19%), revenue from hospitals and skilled nursing for rehabilitation facilities.
