Humana Completes Divestiture of Majority Interest in Kindred at Home Hospice and Personal Care Divisions to CD&R
August 11 2022 - 04:30PM
Business Wire
Humana Inc. (NYSE: HUM) today announced that it has successfully
completed its previously-announced transaction with private
investment firm Clayton, Dubilier & Rice (“CD&R”) to divest
a majority interest in the Hospice and Personal Care divisions of
Humana’s Kindred at Home subsidiary (“KAH Hospice”). These
divisions include patient-centered services for Hospice,
Palliative, Community and Personal Care. Upon closing, the Hospice
and Personal Care divisions have been restructured into a new
standalone company.
“Humana will continue to support the long-term success of these
operations through our minority ownership and ongoing strategic
partnership,” said Susan Diamond, Chief Financial Officer of
Humana. “Hospice and palliative services play an important role in
the full continuum of care, and we are confident that this new
standalone company will continue to provide patients and their
families with the resources and high-quality care they need.”
“We are pleased to complete this transaction with Humana and
CD&R. Our dedicated hospice and personal care company is
focused on improving access, equity and quality of care for
patients while remaining an employer of choice for health care
professionals,” said David Causby, Chief Executive Officer of the
new standalone company, soon to become Gentiva.
About Humana
Humana Inc. is committed to helping our millions of medical and
specialty members achieve their best health. Our successful history
in care delivery and health plan administration is helping us
create a new kind of integrated care with the power to improve
health and well-being and lower costs. Our efforts are leading to a
better quality of life for people with Medicare, families,
individuals, military service personnel, and communities at
large.
To accomplish that, we support physicians and other health care
professionals as they work to deliver the right care in the right
place for their patients, our members. Our range of clinical
capabilities, resources and tools – such as in-home care,
behavioral health, pharmacy services, data analytics and wellness
solutions – combine to produce a simplified experience with the
goal of making health care easier to navigate and more
effective.
More information regarding Humana is available to investors via
the Investor Relations page of the company’s website at humana.com,
including copies of:
- Annual reports to stockholders
- Securities and Exchange Commission filings
- Most recent investor conference presentations
- Quarterly earnings news releases and conference calls
- Calendar of events
- Corporate Governance information.
About Clayton, Dubilier &
Rice
Clayton, Dubilier & Rice is a private investment firm with a
strategy predicated on building stronger, more profitable
businesses. Since inception, CD&R has managed the investment of
approximately $40 billion in more than 100 companies with an
aggregate transaction value of more than $175 billion. The Firm has
offices in New York and London. For more information, please visit
www.cdr-inc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220811005731/en/
Investors: Lisa Stoner - Humana Investor Relations; (502)
580-2652; lstamper@humana.com
Media: Mark Taylor - Humana Corporate Communications;
(317) 753-0345; MTaylor108@humana.com
Jon Selib - Clayton, Dubilier & Rice; (212)-407-6035;
Jselib@cdr-inc.com
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