Kindred Healthcare Inc said it would purchase Gentiva Health Services Inc in a cash and stock deal valued at $1.8 billion, including the assumption of net debt, ending its months-long pursuit of the home-healthcare provider.Kindred said the deal, which it valued at $19.50 per share, would enhance its position as a provider of post-acute care and rehabilitation services.Gentiva shares rose 17.7 percent to $19.67 in early trading while Kindred's shares fell about 3 percent to $9.41.Kindred first offered to buy Gentiva in May with the aim of benefiting from an aging U.S. population.
Gentiva Health Services, Inc. (Gentiva) is engaged in providing home health services and hospice services. Shares of GTIV traded higher by 18.07% or $3.02/share to $19.73. In the past year, the shares have traded as low as $7.35 and as high as $18.93. On average, 367208 shares of GTIV exchange hands on a given day and today's volume is recorded at 1506588.
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 9.78% or $1.93/share to $21.67. In the past year, the shares have traded as low as $13.13 and as high as $26.81. On average, 733158 shares of KND exchange hands on a given day and today's volume is recorded at 1770186.
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