A specialty hospital in Greenwood that has racked up financial losses in two of the past three years is getting a new name and new joint ownership.
Kindred Hospital Indianapolis South, which offers specialized care to patients who need extended care after strokes, amputations and other serious conditions, will operate under a joint venture between Indianapolis-based Community Health Network and Louisville-based Kindred Healthcare, the companies announced Tuesday afternoon.
The hospital, 607 Greenwood Springs Drive, is being remodeled and will reopen early next year under a new name: Community Rehabilitation Hospital South.
Terms of the joint venture were not disclosed. Officials did not say whether Kindred employees would be affected.
The facility has 40 inpatient beds, and will provide post-acute care for patients with a broad range of issues related to stroke, brain injury, spinal cord injury, orthopedics, amputations and related disorders.
The hospital lost $729,683 last year on revenue of $18.9 million, according to documents filed with the Indiana State Department of Health. In 2105, it had a surplus of $107,637. In 2014, it lost $1.4 million.
This will be the third joint venture between Kindred and Community. The other two are Community Rehabilitation Hospital on the Community Hospital North campus and Community Specialty Hospital in Kokomo.