Kindred Healthcare Inc said on Thursday it would purchase Gentiva Health Services Inc in a cash and stock deal valued at $1.8 billion including 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 and make it the largest provider of integrated health in the United States.Analysts have said the home-healthcare industry is ripe for consolidation because of cuts in federal spending and lower Medicare insurance reimbursement rates.Currently, most of Kindred's revenue comes from operating hospitals, nursing homes and rehabilitation centers.
Gentiva Health Services, Inc. (Gentiva) is engaged in providing home health services and hospice services. Shares of GTIV traded higher by 16.76% or $2.8/share to $19.51. 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 4820975.
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 3.14% or $0.62/share to $20.36. 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 4764420.
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