Image of nurses' hands at computer keyboard

Another milestone was reached Thursday on the road to combining two healthcare behemoths, one of them a former skilled nursing giant.

Kindred Healthcare shareholders have approved its sale to Humana and two private equity firms. The action will expedite Kindred’s merger with the large, Louisville-based health insurer.

Under the $800 million deal, Humana will have a 40% stake in Kindred’s home health division. The move is expected to help Humana develop a relationship with Walmart, the nation’s largest retailer.

This deal is part of an effort by TPG Capital and Welsh, Carson, Anderson & Stowe to take over Kindred Healthcare. The private equity firms are attempting to buy all of Kindred for about $4.1 billion in cash.

“We are pleased that Kindred’s stockholders recognize the value of the transaction and expect to close in the summer,” Kindred President and CEO Benjamin A. Breier said in a statement. A company spokesperson from Kindred did not immediately respond to requests for comment.

The sale was held up for five days by an investor-backed suit challenging the sale. The presiding judge extended the shareholder vote to 10 a.m. ET Thursday.

Louisville-based Kindred’s portfolio encompasses a wide variety of services, including home health, assisted living, hospice, long-term care hospitals and inpatient rehabilitation facilities. Once one of the nation’s top three nursing home chains, it exited that business last year.

According to Forbes, Humana’s interest in Kindred is tied to furthering its population health strategy, and pushing to keep patients out of hospital beds and toward less costly outpatient settings. About 40,000 caregivers see 130,000 patients daily as part of Kindred at Home, which generates $2.5 billion in annual revenue. The insurer also administers health benefits to the senior population, and the move “is seen as helping Humana form closer ties with a provider of home care and related services predominantly used by the elderly,” according to Forbes.