A pair of private equity majors have sealed an exit of home health and hospice provider Kindred at Home in a deal valuing the company at $8.1bn.
Humana Inc has bought the 60% of KAH that it does not already own, having picked up a minority stake at the time of the $3.15bn buyout by TPG Capital and Welsh Carson Anderson & Stowe in 2017.
TPG and WCAS gained their stake in the business as part of their buyout of Kindred Healthcare, which it split into KAH and a separate company specialising in long-term acute care and rehabilitation facilities.
KAH employs about 43,000 people providing home health, hospice and community care services to over 550,000 patients each year.
TPG partner Jeff Rhodes said, “We have been proud to work with management and our partners to invest behind and build best-in-class clinical care at Kindred at Home.
“Through our collective partnership, we have established innovative care pathways that prioritize value on behalf of patients while enabling a more seamless and integrated care experience.”
This deal is expected to close in the third quarter of 2021.
WCAS hit a $4.3bn hard cap for the final close of its latest flagship fund, WCAS XIII, in 2019.
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Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/private-equity-majors-set-for-big-returns-after-agreeing-8-1bn-kindred-at-home-sale-to-humana.html
