Insurer Humana to buy remaining stake in Kindred at Home for $5.7 billion (Adds details on deal) April 27 (Reuters) – U.S.health insurer Humana Inc said on Tuesday it will acquire the 60% stake that it did not own in home health and hospice provider Kindred at Home from private equity capital TPG Capital for $5.7 billion.The acquisition allows Humana to invest in home-based clinical solutions by engaging in-home physician and urgent care resources when a patient does not have immediate access to a primary care physician.”Fully integrating Kindred at Home will enable us to more closely align incentives to focus on improving patient outcomes and on reducing the total cost of care,” said Bruce Broussard, chief executive officer of Humana.The deal has an enterprise value of $8.1 billion, which includes Humana’s existing equity value of $2.4 billion associated with its 40% minority ownership interest.
The company expects to close the deal in the third quarter and aims to fund it through a combination of parent company cash and debt financing.Humana does not expect a material impact to its 2021 earnings from the deal.
(Reporting by Trisha Roy in Bengaluru; Editing by Arun Koyyur) First Published: 2021-04-27 22:46:17 Updated 2021-04-27 23:06:23
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