Gentiva, backed by Humana, Clayton, Dubilier & Rice, buying ProMedica for $710M - report
- Hospice company Gentiva, which is backed by Humana (NYSE:HUM) and private equity firm Clayton, Dubilier, & Rice (CD&R), said that it would acquire ProMedica's hospice and home-care assets for $710M, Bloomberg reported.
- Gentiva is the largest hospital company in the US based on revenue and number of patients.
- With the arrangement, Gentiva will have more than 500 locations from about 380 now, according to CEO David Causby. Patient count will increase to 34K from ~25K.
- Gentiva was formerly part of Kindred at Home. In 2022, it was renamed after CD&R took a 60% stake in the Kindred's hospice and personal care businesses from Humana (HUM), which still has a 40% stake.
- See why Seeking Alpha contributor Brad Thomas recently called Humana (HUM) a strong buy.