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Mintz Advising Consortium in $4+ Billion Acquisition of Kindred Healthcare

Mintz is advising a consortium of investors led by TPG Capital and Welsh, Carson, Anderson & Stowe (“WCAS”) in their acquisition of Kindred Healthcare, Inc. The definitive agreement announced on December 19, 2017 totals approximately $4.1 billion in cash including the assumption or repayment of net debt. Under the terms of the agreement, Kindred stockholders will receive $9.00 in cash for each share of common stock they hold.

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. Immediately following the acquisition of Kindred, the home health, hospice and community care businesses will be separated from Kindred and operated as a standalone company owned 40 percent by Humana Inc., with the remaining 60 percent owned by the consortium. Kindred’s LTAC hospitals, IRFs and contract rehabilitation services businesses will be operated as a separate specialty hospital company owned by TPG and WCAS (“Kindred Healthcare”).

The Mintz legal team is led by Member ​Susan Berson and included Members ​Theresa Carnegie and ​Karen Lovitch, Special Counsel ​Ellyn Sternfield, Counsel ​Tara Dwyer and Associates ​Bridgette Keller, ​Lauren Moldawer and ​Carrie Roll – all of the firm’s Health Law Practice.