Polsinelli Guides Kindred through $700 Million Skilled Nursing Portfolio Sale
Am Law 100 firm Polsinelli is advising Kindred Healthcare Inc. (“Kindred”) in its skilled nursing facility portfolio divestiture to BM Eagle Holdings, LLC, a joint venture led by affiliates of BlueMountain Capital Management, LLC (“BlueMountain”), for $700 million in cash.
The sale includes 89 nursing centers with 11,308 licensed beds and seven assisted living facilities with 380 licensed beds, which collectively have had approximately 11,500 employees in 18 states.
Kindred first announced the signing of a definitive agreement with BlueMountain on June 30, 2017, and achieved its first closing for the transfer of 54 facilities to BlueMountain on Aug. 31, 2017. On Oct. 2, 2017, Kindred announced the second closing, transferring an additional 16 facilities to BlueMountain and two facilities to third parties.
The Polsinelli team advising Kindred is led by Corporate & Transactional Shareholder Bobby Guy
, and includes Health Care Shareholder Andy Voss
and Corporate & Transactional Shareholder Robert Dempsey
. The Polsinelli team also includes Corporate & Transactional Shareholder Mary Bannister
; Health Care Department Chair Matt Murer
; Health Care and Corporate & Transactional Associates Peter Eggers
, Oliver Davis
, and Ashley Gleckler
; Real Estate Shareholders Brook Bailey
, Mary Jane Judy
, and Joseph Bealmear
; Benefits Shareholders Henry Talavera
and Elizabeth Bray
; Labor & Employment Shareholder Mark Nelson
; Environmental Shareholder Chris Erker
; and Tax Shareholders Bill Sanders
and Erik Edwards
To learn more, contact Carrie Trent at firstname.lastname@example.org