The Firm is representing Evercore as financial advisor to Humana Inc. in connection with the announced definitive agreement to acquire a 40% minority interest in the Kindred at Home division of Kindred Healthcare, Inc. for approximately $800 million.
Humana, along with TPG Capital and Welsh, Carson, Anderson & Stowe (“WCAS”), jointly created a consortium to purchase all of the outstanding and issued securities of Kindred. Simultaneously with the closing of that transaction, TPG and WCAS will separate Kindred at Home from the Specialty Hospital company and form a joint venture with Humana to own Kindred at Home. Humana will own 40% of Kindred at Home, with the remaining 60% owned by a new entity owned by TPG and WCAS.
Humana is committed to helping its millions of medical and specialty members achieve their best health. The company’s successful history in care delivery and health plan administration is helping create a new kind of integrated care with the power to improve health and well-being and lower costs. Its efforts are leading to a better quality of life for people with Medicare, families, individuals, military service personnel and communities at large.
Kindred operates home health, hospice and community care businesses, long-term acute care (“LTAC”) hospitals, inpatient rehabilitation facilities (“IRF”) and a contract rehabilitation services business.
The Simpson Thacher team includes Patrick Naughton, Stephen Wiseman and Rex Hupy (M&A).