M&A Deal Summary

CD&R Acquires Gentiva Health Services

On April 21, 2022, private equity firm CD&R acquired healthcare services company Gentiva Health Services from Humana

Acquisition Highlights
  • This is CD&R’s 9th transaction in the Healthcare Services sector.
  • This is CD&R’s 58th transaction in the United States.
  • This is CD&R’s 2nd transaction in Kentucky.

M&A Deal Summary
Date 2022-04-21
Target Gentiva Health Services
Sector Healthcare Services
Buyer(s) CD&R
Sellers(s) Humana
Deal Type Divestiture

Target

Gentiva Health Services

Louisville, Kentucky, United States
Gentiva Health Services include patient-centered services for Hospice, Palliative, Community and Personal Care.

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Buyer(S) 1

Buyer

CD&R

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1978
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clayton, Dubilier & Rice LLC (CD&R) is a large private equity firm that targets non-core divestitures of large corporations, growth equity financings, traditional buyouts, and corporate/family partnerships. CD&R looks for opportunities in North America, Western Europe, and Asia and will consider businesses in a wide range of sectors including consumer/retail, healthcare, industrials, and services. Prospective companies generally lead their respective markets, have stable cash flows, and possess competitive advantages through differentiated products, services, or processes. CD&R was formed in 1978 and has offices in New York City and London.

DEAL STATS #
Overall 81 of 93
Sector (Healthcare Services) 9 of 9
Type (Divestiture) 24 of 25
State (Kentucky) 2 of 2
Country (United States) 58 of 67
Year (2022) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-07 Cornerstone Building Brands

Cary, North Carolina, United States

Cornerstone Building Brands is an integrated manufacturer of metal products for the nonresidential building industry. Cornerstone Building Brands was formed in 1984 and is based in Cary, North Carolina.

Buy $5.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-25 Covetrus

Portland, Maine, United States

Covetrus is a provider of technology-enabled healthcare services for companion and equine veterinary practitioners. The company partners with veterinarians to create insight into gaps in patient care and offer professionalized pro-active prescription management to drive client engagement and improve compliance. Covetrus was formed in 2010 and is based in Portland, Maine.

Buy $4.0B

Seller(S) 1

SELLER

Humana

Louisville, Kentucky, United States
Category Company
Founded 1961
Sector Healthcare Services
Employees67,600
Revenue 106.4B USD (2023)
DESCRIPTION

Humana is a managed healthcare company that markets and administers health insurance. Humana operates through three segments. These include Retail, Employer Group, and Healthcare Services. The Retail segment consists of Medicare and commercial fully-insured medical and specialty health insurance benefits, including dental, vision, and other supplemental health and financial protection products, marketed directly to individuals. The Employer Group segment consists of Medicare and commercial fully-insured medical and specialty health insurance benefits, including dental, vision, and other supplemental health and voluntary benefit products. The Healthcare Services segment includes services offered to health plan members as well as to third parties, including pharmacy, provider services, home based services, integrated behavioral health services, and predictive modeling and informatics services. Humana was formed in 1961 and is based in Louisville, Kentucky.

DEAL STATS #
Overall 6 of 6
Sector (Healthcare Services) 4 of 4
Type (Divestiture) 4 of 4
State (Kentucky) 4 of 4
Country (United States) 6 of 6
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-21 Kindred

Louisville, Kentucky, United States

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.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-12 Inclusa

Stevens Point, Wisconsin, United States

Inclusa is a managed care organization (“MCO”) provides long-term care services and supports to approximately 16,600 older adults and adults with disabilities through the state’s Family Care program. Inclusa is based in Stevens Point, Wisconsin.

Buy -
Mergr

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