Mintz Levin 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 Levin 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.
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