- Kindred Healthcare Inc. will acquire Gentiva Health Services Inc. in a cash-and-stock deal worth $719.6 million, despite multiple previous rejections by Gentiva.
- The combined organization will be the largest operator of long-term acute care hospitals and inpatient rehabilitation facilities in the country, as well as the nation's largest provider of home health, hospice and rehabilitation services. It is estimated that annual revenue will be around $7 billion.
- The deal received unanimous approval from both boards and is expected to close in the first quarter of 2015 pending approval from Gentiva stockholders. The combined company will operate out of Kindred at Home in Louisville, Kentucky.
Including Gentiva's approximately $1 billion in debt, the deal is valued at around $1.8 billion. Kindred initiated the hostile takeover of Gentiva in May, offering to buy the provider for offers first of $14 per share and later $14.50, both of which Gentiva rejected. The final deal was for $14.50 per share in cash and $5 of common stock for each share of Gentiva.