Former Dayton Heart Hospital purchased for $16M

The hospital plans to make at least $9 million in improvements to the building, which will be fully occupied, Schoen said.

A news conference to disclose more details of the expansion is scheduled today at the front entrance of the former Dayton Heart Hospital, 707 Edwin C. Moses Blvd.

Kindred, a long-term acute care hospital, will relocate its 67 long-term acute-care beds from the fifth and sixth floors of Elizabeth Place, next door to the former Dayton Heart Hospital.

Kindred has been located there since it opened in Dayton in 2004, and has not had the space to expand in recent years, Schoen said.

“This building had served us well, but it didn’t allow us to do what we’re capable of doing,” Schoen said. She said the Chapter 11 bankruptcy proceedings involving the owner of the building in which Kindred is currently located did not factor into the hospital’s decision to relocate.

Kindred also plans to acquire 37 skilled nursing beds to add to the new location, pending regulatory approvals.

The new hospital will have more private rooms and will have about 132,000 square feet of space, about four times its current 34,000 square feet, according to a company news release.

Kindred also plans to add a full-service lab, including a radiology department with CT scanner; an operating room for moderate procedures such as tracheostomies and wound care; and food-service capabilities.

Since Good Samaritan Hospital bought its competitor, Dayton Heart Hospital, in May 2008, “this has been my dream” to move into the Dayton Heart Hospital building, Schoen said. “We had been talking with them on and off.”

Kindred completed the purchase of the property from Good Samaritan Hospital on Aug. 1, and plans to move to its new location in spring 2012.

Good Samaritan Hospital paid $23.75 million for the Dayton Heart Hospital property, according to county real estate records. It subsequently absorbed the heart hospital’s operations into its heart and vascular hospital.

Louisville, Ky.-based Kindred Healthcare Inc. has annual revenues of $6 billion and about 76,000 employees in 46 states. In February, it announced a $1.3 billion acquisition of RehabCare Group, Inc., making Kindred the largest post-acute health care services company in the nation.