Originally Published by Humana.
Humana Inc., TPG Capital (TPG) and Welsh, Carson, Anderson & Stowe (WCAS) (collectively, the Consortium) announced the completion of the previously announced acquisition of Kindred Healthcare, Inc. (Kindred).
In connection with the closing and in accordance with the terms of the agreement, Kindred’s long-term acute care (LTAC) hospitals, inpatient rehabilitation facilities (IRF) and contract rehabilitation services business (collectively, Kindred Healthcare) were separated from Kindred’s home health, hospice, and community care businesses (collectively, Kindred at Home). Kindred Healthcare will be operated as a separate specialty hospital company owned by TPG and WCAS. Kindred at Home will be operated as a standalone company owned 40 percent by Humana, with the remaining 60 percent owned by TPG and WCAS. Humana will have a right to buy the remaining ownership interest in Kindred at Home over time through a put/call arrangement.
As a result of the completion of the acquisition, Kindred’s stock has ceased trading on the New York Stock Exchange.
The Consortium expects the closing of the separate, previously announced acquisition of Curo Health Services to occur later this month.
