Kindred - M&A Summary, Ownership, and Business Overview

Healthcare ServicesCompany

Kindred M&A Summary

Kindred has acquired 23 companies of its own, including 2 in the last 5 years. A total of 11 acquisitions came from private equity firms. It has also divested 8 assets.

Kindred’s largest acquisition to date was in 2015, when it acquired Gentiva Health Services for $1.8B. It’s largest disclosed sale occurred in 2017, when it sold Centerwell Home Health to Humana for $800M. Kindred has acquired in 10 different US states. The Company’s most targeted sectors include healthcare services (100%).

Kindred Ownership

Who owns Kindred?

Kindred is owned by LifePoint Health. It was acquired on June 21, 2021.

Was Kindred formerly PE-backed?

Yes. Kindred was formerly owned by 2 private investors.

Kindred Business Overview

Where is Kindred headquartered?

Kindred is headquartered in Louisville, Kentucky.

What is Kindred’s revenue?

Kindred disclosed revenue of 7,220M USD for 2016 and 7,055M USD for 2015.

How many employees does Kindred have?

Kindred has 53,200 employees.

What sector is Kindred in?

Kindred is a healthcare services company.

When was Kindred founded?

Kindred was founded in 1985.

M&A Summary

  • M&A Total Activity26
    • M&A Buy Activity18
    • M&A Sell Activity8
  • Total Sectors Invested 1
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 21
  • M&A Advisors 8

Kindred

Kindred Healthcare LLC

680 S. 4th Street,
Louisville, Kentucky 40202
United States,
(502) 596-7300
www.kindredhealthcare.com

Kindred is a healthcare services company based in Louisville, Kentucky. Kindred provides healthcare services in 2,353 locations, including 97 transitional care hospitals, five inpatient rehabilitation hospitals, 98 nursing centers, 21 sub-acute units, 153 Kindred at Home hospice, home health and non-medical home care locations, 104 inpatient rehabilitation units (hospital-based), and a contract rehabilitation services business, RehabCare, which serves 1,875 non-affiliated facilities. Kindred was founded in 1985 and is based in Louisville, Kentucky.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.0/yr) # 18 - - - - - 18
vol $4.5B $4.5B
Sell (0.2/yr) # 7 1 - - - - 8
vol $1.1B $1.1B
  26

Most Recent M&A

Company Date Value Type
RehabCare Group, Inc. 2020-10-05 - Divestiture
Louisville, Kentucky · www.rehabcare.com
Kindred Hospital Paramount 2019-05-02 - Divestiture
Boca Raton, Florida
American Chronic Care LLC 2019-01-07 - Add-on Acquisition
Ocala, Florida · www.americanchroniccarellc.com
Centerwell Home Health 2017-12-19 800M USD Divestiture
Atlanta, Georgia · www.centerwellhomehealth.com
Curahealth LLC 2016-10-03 28M USD Divestiture
Louisville, Kentucky
Kinder Hearts - Home Health & Hospice Operations 2016-09-06 - Divestiture
Abilene, Texas
Arkansas Department - In-Home Health Care Operations 2016-06-20 39M USD Divestiture
, United States
Kindred Healthcare - Long-Term Acute Care (LTAC) 2016-04-04 28M USD Divestiture
, United States
Gentiva Health Services, Inc. 2015-02-02 1.8B USD Add-on Acquisition
Atlanta, Georgia · www.gentiva.com
Centerre Healthcare Corp. 2014-11-12 195M USD Add-on Acquisition
Brentwood, Tennessee · www.centerrehc.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Gentiva Health Services, Inc. 2015-02-02 ProMedica - Home Health, Palliative and Hospice Business 2023-11-01 2
Atlanta, Georgia · www.gentiva.com Washington, District of Columbia
Gentiva Health Services, Inc. 2015-02-02 Heartland Hospice and Home Care 2023-02-27 1
Atlanta, Georgia · www.gentiva.com Toledo, Ohio
Gentiva Health Services, Inc.    - Harden Healthcare LLC 2013-10-18 7
Atlanta, Georgia · www.gentiva.com Austin, Texas · www.hardenhealthcare.com
Gentiva Health Services, Inc.    - Family Home Care - Home Health & Hospice Business 2012-09-04 6
Atlanta, Georgia · www.gentiva.com Liberty Lake, Washington
Gentiva Health Services, Inc.    - Rehab Without Walls 2011-09-12 1
Atlanta, Georgia · www.gentiva.com Lynnwood, Washington · www.rehabwithoutwalls.com
Gentiva Health Services, Inc.    - The Healthfield Group, Inc. 2006-01-05 5
Atlanta, Georgia · www.gentiva.com Arlington, Texas · www.healthfield.com

M&A by Sector

Sector Buy # Value Sell # Value
Healthcare Services 18 (100%) 4.5B (100%) 8 (100%) 1.1B (100%)
Total 18 $4.5B 8 $1.1B

By Geo

State/Country Buy Value Sell Value
United States 18 4.5B 8 1.1B
  Texas 3 975M 1 -
  Florida 3 95M - -
  California 3 53M - -
  Kentucky 1 1.3B 2 28M
  Tennessee 2 195M - -
  Ohio 2 - - -
  Georgia 1 1.8B 1 800M
  Missouri 1 - - -
  Louisiana 1 45M - -
Total 18 $4.5B 8 $1.1B

Top M&A Advisors

Financial Deals
Morgan Stanley
2
Houlihan Lokey
1
Citigroup Investment Banking
1
Legal Deals
Cleary Gottlieb Steen & Hamilton
3
Waller
1
Gibson, Dunn & Crutcher
1

Deal Values

buy # Total
> $1B 2 $3.1B
$100M to $1B 2 $1.1B
< $100M 6 $307M
TOTAL $4.5B
Largest Gentiva Health Services, Inc.
$1.8B (2015-02-02)
sell # Total
$100M to $1B 2 $966M
< $100M 3 $102M
TOTAL $1.1B
Largest Centerwell Home Health
$800M (2017-12-19)

M&A Connections

Deals
Acquired from
Investor(s)
33%
6 (33%)
Strategic(s)
22%
4 (22%)
Divested to
Investor(s)
13%
1 (13%)
Strategic(s)
88%
7 (88%)

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