Humana takes full ownership of Kindred at Home in $5.7bn deal
American health insurance giant Humana has wrapped up its previously announced $5.7 billion deal of acquiring full ownership of home health and hospice provider Kindred at Home (KAH).
As per the terms of the deal announced in April 2021, Humana acquired the remaining 60% stake it previously did not own in Kindred at Home from TPG Capital. The deal valued 100% of the home health and hospice provider at $8.1 billion.
Bruce D. Broussard — Humana President and CEO said: “We are pleased to complete the acquisition of Kindred at Home and fully integrate their home health services and clinical expertise into Humana’s value-based home health business.
“The addition of Kindred at Home will help us significantly expand our home health offering, with a focus on accelerating clinical innovation, improving patient outcomes, increasing satisfaction for patients and providers, reducing the total cost of care and providing greater value for health plan partners.”
Humana takes full ownership of Kindred at Home in $5.7bn deal
Kindred at Home has nearly 43,000 caregivers for delivering home health, hospice and community care services to more than 550,000 patients annually.
The company has locations in 40 US states, and has nearly 65% overlap with the individual Medicare Advantage membership of Humana.
According to Humana, the home health operations of Kindred at Home are being integrated with the company’s home solutions business. The combination will also adopt CenterWell, the new payer-agnostic healthcare services brand of Humana, and will transition to CenterWell Home Health starting from 2022.
Greg Sheff — interim president for Humana’s home solutions segment said: “Through this acquisition, we are adding thousands of caregivers, nurses, therapists and physicians to our teams, and are confident in the clinical skills, expertise and patient centricity they will bring to Humana’s Home Solutions business,” said
“We look forward to working closely together to grow our value-based home health offering and find new ways to positively change the future of home healthcare.”