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Centerre Healthcare Corporation

Acquired

2 known investors

Find your way into Centerre Healthcare Corporation

Lifepoint is a diversified healthcare delivery network operating community hospitals, rehabilitation and behavioral health hospitals, and additional sites of care across the healthcare continuum. Founded in 1999, it operates facilities across 34 U.S. states.

Also known as Centerre · Centerre Healthcare Corporation

Founders & leadership

SM
Scott MercyFounding Chairman and CEO

Investors · 2

Company profile

researched Aug 2026

Centerre Healthcare Corporation was a privately held, national company dedicated to operating inpatient rehabilitation hospitals. At the time of its 2014 merger agreement with Kindred Healthcare, it operated 11 inpatient rehabilitation hospitals with 612 beds, developed and run in partnership with acute care hospital systems through joint ventures, and employed approximately 1,600 people. Only its management team was based at its Franklin, Tennessee headquarters.

The company had two additional hospitals totaling 90 beds under construction and scheduled to open in 2015, plus a pipeline of further potential hospitals at various stages of development. Three of its 11 operating hospitals opened in 2014 and two opened in 2013, so its facility portfolio was still maturing at the time of the transaction. All of Centerre's hospitals were leased, with expected rent expense of roughly $20 million in 2014.

In November 2014, Kindred Healthcare announced a definitive merger agreement to acquire Centerre for approximately $195 million in cash; the deal closed and was announced as completed in January 2015. Centerre's hospitals were folded into a new Kindred business line, Kindred Hospital Rehabilitation Services, which combined RehabCare, Kindred's rehabilitation hospitals and Centerre.

Business model

Centerre developed and operated inpatient rehabilitation hospitals, structuring facilities as joint ventures with acute care hospital systems that held minority ownership interests. Its hospitals were leased rather than owned, with approximately $20 million in expected 2014 rent expense, and minority interest expense attributable to hospital partners was approximately $14 million in 2014.

Revenue was generated from operating inpatient rehabilitation hospitals; 2014 revenues were expected to be approximately $200 million with EBITDAR of approximately $48 million before deducting $14 million of minority interest expense for hospital partners' interests.

Traction

Operated 11 inpatient rehabilitation hospitals with 612 beds and about 1,600 employees, with two more hospitals (90 beds) under construction for 2015 opening; expected 2014 revenues of approximately $200 million and EBITDAR of approximately $48 million.

Latest developments

Kindred Healthcare announced a definitive merger agreement to acquire Centerre for approximately $195 million in cash on November 12, 2014. The FTC granted early termination of the Hart-Scott-Rodino waiting period on December 24, 2014, and Kindred announced completion of the acquisition on January 2, 2015. Cain Brothers served as financial advisor and Bradley Arant Boult Cummings LLP as legal advisor to Centerre.

Full profile — market position, go-to-market, geography

Market position

A national operator of inpatient rehabilitation hospitals whose portfolio, combined with Kindred's five rehabilitation hospitals and 102 hospital-based acute rehabilitation units managed by RehabCare, was expected to make Kindred one of the largest operators of inpatient rehabilitation hospitals in the United States.

Centerre built its rehabilitation hospitals through joint venture relationships with acute care hospital systems, an approach its management cited as producing clinical outcomes above national benchmarks.

Go-to-market

Patients requiring intensive inpatient rehabilitation, reached through joint venture relationships with acute care hospital systems.

Geography

Headquartered in Franklin, Tennessee, with 11 operating inpatient rehabilitation hospitals across the United States; the hospitals were described as geographically aligned with five targeted Kindred Integrated Care Markets.

Compiled by commissioned research from 4 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Acquisition purchase priceJan 2015$195M
EmployeesNov 20141,600 employees
Expected annual revenueJan 2014$200M
Expected EBITDARJan 2014$48M
Expected rent expenseJan 2014$20M
Hospitals under constructionNov 20142 hospitals (90 beds), scheduled to open 2015
Inpatient rehabilitation hospitals operatedNov 201411 hospitals
Licensed bedsNov 2014612 beds

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Competitors · 2

by search overlap

Companies competing with Centerre Healthcare Corporation for the same Google search keywords, organic and paid, via search-intersection analysis.

Timeline · 3

launches, deals, and filings
Jan 2015
Kindred Healthcare completes acquisition of Centerre Healthcare

Kindred Healthcare announced completion of its acquisition of Centerre Healthcare Corporation for approximately $195 million in cash. Centerre's operations were combined with RehabCare and Kindred's rehabilitation hospitals to form Kindred Hospital Rehabilitation Services, operating in 36 states across 384 locations. Cain Brothers served as financial advisor to Centerre and Bradley Arant Boult Cummings LLP as its legal advisor.

$195M source ↗

Dec 2014
FTC grants HSR early termination for Kindred/Centerre transaction

The U.S. Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period for transaction number 20150238, with Kindred Healthcare, Inc. as acquiring party and Centerre Healthcare Corporation as acquired party.

source ↗

Nov 2014
Kindred Healthcare signs definitive merger agreement to acquire Centerre Healthcare for ~$195M in cash

Kindred Healthcare, Inc. (NYSE:KND) announced a definitive merger agreement to acquire Centerre Healthcare Corporation for approximately $195 million in cash, subject to stockholder approval, regulatory approvals, joint venture partner consents and HSR waiting period expiration. The transaction was expected to close in Q1 2015.

$195M source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

Research sources · 4

primary sources listed

4 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Centerre Healthcare Corporation do?
Franklin, Tennessee operator of inpatient rehabilitation hospitals run as joint ventures with acute care hospital systems; acquired by Kindred Healthcare in 2015.
Who founded Centerre Healthcare Corporation?
Centerre Healthcare Corporation was founded by Scott Mercy.
Who are Centerre Healthcare Corporation's investors?
Centerre Healthcare Corporation's investors include RC Capital, RiverVest Venture Partners.