Humana-led consortium to acquire privately held Curo Health Services in $1.4 billion deal

A consortium comprised of Humana Inc. TPG Capital, Welsh, Carson, Anderson & Stowe, said Monday they have reached agreement to acquire privately held Curo Health Services for about $1.4 billion. Curo is a hospice operator with 245 outlets in 22 states. Humana will hold a 40% minority interest in the company when the deal is completed, expected by summer of 2018. The consortium is in the midst of acquiring the Kindred at Home Division of Kindred Healthcare Inc. the largest home health provider and second largest hospice operator in the U.S. The Curo deal is not conditioned on the closing of the Kindred deal, but the consortium intends to merge the two to create the nation's biggest hospice operator. Humana does not expect the deal to have a material impact on earnings. Shares were not yet active premarket, but have gained 38% in the last 12 months, while the S&P 500 has gained 14%.