Ventas said it supports Kindred acquisition
Ventas Inc. said it supports the acquisition of Kindred Healthcare by TPG Capital, Welsh, Carson, Anderson & Stowe, and Humana Inc.
Ventas owns 30 long-term acute care and inpatient rehabilitation facilities operated by Kindred.
After the acquisition, Kindred's LTACs, IRFs and contract rehabilitation services businesses will be operated as a separate company called Kindred Healthcare, while its home health, hospice and community care businesses will be called Kindred at Home.
"We are delighted to support this innovative transaction. It brings together leading healthcare provider Kindred and its excellent management team with premier private equity sponsors TPG and WCAS, who have significant experience in healthcare, and Humana's focus on integrated senior care," said Debra A. Cafaro, Ventas Chairman and Chief Executive Officer.
The transaction is expected to close next summer.