Mintz Advises Kindred at Home in $5.7 Billion Sale to Humana
Mintz served as health regulatory legal advisor to Kindred at Home, the nation’s largest home health and hospice provider, in the acquisition by Humana, Inc. (NYSE: HUM), one of the nation’s leading health and well-being companies, of the remaining 60 percent interest of Kindred at Home from private equity firms TPG Capital and Welsh, Carson, Anderson & Stowe. The recently completed transaction reflected an enterprise value for Kindred at Home of $8.1 billion, which included Humana’s existing equity value of $2.4 billion associated with its 40 percent minority ownership interest.
Founded in 1971 as Olsten Health Services, Kindred at Home has grown to become one of the nation’s largest providers of home care services. Over the past 50 years, the company’s commitment to care has grown to more than 775 locations across 40 states. Kindred at Home caregivers provide home health, hospice, and personal care services to over 550,000 patients annually.
The Mintz team that advised Kindred at Home was led by Managing Member of Mintz’s Washington, D.C. Office and Chair of the firm’s Health Law, Communications, Antitrust & ML Strategies Division Susan Berson and Associates Lauren Moldawer and Xavier Hardy.
Members of Mintz’s Health Law Practice bring deep industry knowledge to mergers and acquisitions and other corporate transactions. The team provides investors and businesses with sophisticated counsel to help navigate the regulatory regime, including by assessing targets’ level of compliance, identifying and complying with regulatory and contractual change of ownership requirements, and mitigating any potential legal or financial exposure. Learn more about Mintz’s health care transactional due diligence capabilities and experience here.