Foothill Ranch’s Skilled Healthcare Group Inc. is selling its pharmacy unit to Louisville, Ky.-based Kindred Healthcare Inc.
Terms of the deal, set to close by the end of the month, weren’t disclosed.
Skilled Care Pharmacy runs two pharmacies that mainly serve nursing homes and assisted-living facilities in Southern California.
Parent company Skilled Healthcare, formerly known as Fountain View, runs some 50 nursing and five assisted-living centers in California and Texas. It came out of two years of Chapter 11 bankruptcy protection in 2003.
That same year, what then was Fountain View moved from Burbank to Foothill Ranch. Skilled Healthcare has about $350 million in yearly sales, most from government healthcare programs.
The company’s Yorba Linda-based Skilled Care Pharmacy unit has about $50 million in yearly revenue and serves about 7,300 patients.
Kindred runs hospitals, nursing centers and pharmacies for its facilities. Last month, Kindred said it planned to buy Pharmacy Partners Inc., a Pennsylvania company that runs two long-term care pharmacies.
The acquisitions are part of Kindred’s strategy to expand its pharmacy operation, the company said.
