HUM - 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.

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