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Essay / Research Paper Abstract
This 5 page paper discusses Kindred Health Care using its annual report as the primary source. Bibliography lists 4 sources.
Page Count:
5 pages (~225 words per page)
File: D0_HVKindrd.rtf
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Unformatted sample text from the term paper:
and other information of interest from the latest available annual report. Financials The latest annual report available via the website is for 2004; it may not post its 2005 report
for some time, though there are more recent financials on Hoover.com. But the 2004 report gives us a good indication of how the companys doing and the picture is promising.
In 2004, Kindred "significantly strengthened our financial position and improved our liquidity" (Diaz). The company increased its consolidated revenues for the year by 9%, and in addition, saw their accounts
receivable decline by approximately $29 million by year end, December 31, 2004 (Diaz). (That means they were able to collect $29 million owed them.) Kindreds operating cash flow more
than doubled from the 2003 figure; they repaid all of their bank debt, "and we financed all of our acquisitions, development projects and our strategic divestiture program from our operating
cash flows" (Diaz). In order to "further strengthen our financial position, we have consistently maintained a fiscal policy of fully funding our limited purpose insurance subsidiary for professional liability
and workers compensation claim benefits" (Diaz). These insurance programs were worth almost $300 million by the end of 2004 (Diaz). Finally, they refinanced their "revolving credit facility" and at
the years end they had "no outstanding borrowings"; they had $112 million to use for future acquisitions (Diaz). Services Kindred operates 72 hospitals, 249 nursing centers, and 33 institutional pharmacies;
it also employs 5,300 therapists (2004 annual report). Its hospitals specialize in treating people who are "critically ill, medically complex patients who suffer from multiple organ system failures-active disorders of
many parts of the body" (2004 annual report). Conditions may include such things as cardiopulmonary disease, stroke, head injuries and wounds; patients "often are dependent on technology, such as mechanical
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