U.S. hospital operator Kindred Healthcare Inc said on Friday it was prepared to revise or withdraw its offer to purchase Gentiva Health Services Inc , after reports that the home healthcare services provider may be trying to buy rival Amedisys Inc. Kindred said in a letter that it was concerned about marketplace reports that Gentiva may be trying to acquire Amedisys Inc while refusing to discuss Kindred's offer."The Gentiva board may be pursuing a course that would disenfranchise its shareholders through a value-destroying and highly levered transaction with Amedisys," Kindred said.Earlier in the day, CRT Capital Research analyst Sheryl Skolnick commented in a note on Amedisys's unusual step of pre-releasing better-than-expected second-quarter results on Friday. She said that development made her "highly suspicious" that Amedisys may have done that so Gentiva or others could make a higher bid for Amedisys. (bit.ly/TqI0zc)Kindred said it is "firmly committed" to the proposed deal and asked Gentiva board to start discussions.
Amedisys, Inc. (Amedisys) is a health care company focused on bringing home the continuum of care. Shares of AMED traded higher by 29.81% or $4.01/share to $17.46. In the past year, the shares have traded as low as $9.51 and as high as $18.70. On average, 301086 shares of AMED exchange hands on a given day and today's volume is recorded at 5027787.
Gentiva Health Services, Inc. (Gentiva) is engaged in providing home health services and hospice services. Shares of GTIV traded higher by 1.4% or $0.21/share to $15.23. In the past year, the shares have traded as low as $7.35 and as high as $16.13. On average, 517570 shares of GTIV exchange hands on a given day and today's volume is recorded at 472849.
Kindred Healthcare, Inc. is a healthcare services company that through its subsidiaries operates transitional care (TC) hospitals, inpatient rehabilitation hospitals (IRFs), nursing and rehabilitation centers, assisted living facilities, a contract rehabilitation services business and a home health and hospice business across the United States. Shares of KND traded higher by 1.26% or $0.29/share to $23.39. In the past year, the shares have traded as low as $12.50 and as high as $26.81. On average, 637067 shares of KND exchange hands on a given day and today's volume is recorded at 2010483.
Source
