Humana Inc. (NYSE: HUM) CEO Bruce Broussard will step down in late 2024, with incoming COO and President Jim Rechtin on deck to succeed him. Rechtin comes to Humana from Envision Healthcare where he is now president and CEO. He transitions to the COO role for the insurance behemoth as of Jan. 8, 2024 and […]
Following its hospice divestiture, Humana’s (NYSE: HUM) health care services business, CenterWell, is poised for growth, with demand for acute senior home care as a driver. Humana anticipates expansion across each of CenterWell’s business lines, which encompasses the insurance mammoth’s home health, primary care, pharmacy and specialty pharmacy services. The segment also includes a joint […]
Humana, Inc., (NYSE: HUM) has tapped Dr. Sanjay Shetty to become president of its health care services business, CenterWell. Shetty’s appointment continues a reorganization that the insurance giant undertook last year that arranged its business into two segments, insurance and CenterWell. The latter contains the former home health assets of Kindred at Home, of which […]
Humana Inc. (NYSE: HUM) has completed its $2.8 billion sale of Kindred at Home’s hospice and personal care segments, divesting a 60% stake to the private equity firm Clayton, Dubilier & Rice. Humana will retain the remaining 40%. The sale coincides with Humana’s stated goal of raising its enterprise value by $1 billion, while building […]
Humana Inc. (NYSE: HUM) expects revenue to fall by $400 million immediately following its divestiture of the Kindred at Home hospice segment, but anticipates this to be offset by lower operating costs and, in time, the proceeds of the sale. The company signed a definitive agreement in April to sell a 60% stake in Kindred […]
Two Oregon locations included in Humana’s (NYSE: HUM) divestiture of Kindred at Home’s hospice assets are currently under review by the state’s health authority — part of the diligence process involved in any M&A transaction. Humana in April signed a definitive agreement to sell a 60% stake in Kindred at Home to private equity firm […]
Private equity firms are pouring investment dollars into hospices at a record pace. Meanwhile, legislators and regulators as far up as the White House are taking aim at those firms. Despite a cool down in the hospice mergers and acquisitions market during the first quarter of 2022, private equity firms have stayed aggressive on deals. […]
In its calculus behind its 2021 Kindred at Home deal, Humana Inc. (NYSE: HUM) had to weigh the potential cost savings and lucrative hospice divestiture against the labor pressures in the space, as well as the complexity of scaling home-based care in a fragmented industry. Last year, Humana acquired total ownership of Kindred at Home […]
The Southern District Court of Mississippi granted hospice provider SouthernCare Inc.’s motion to dismiss a whistleblower’s False Claims Act complaint. However, the court will proceed in hearing allegations that the company terminated an employee who raised concerns about these practices. Former SouthernCare nurse Rhonda McClinton filed a qui tam complaint against the organization in 2016, […]
Humana Inc. (NYSE: HUM) has signed a definitive agreement to sell a 60% stake in Kindred at Home’s (KAH) hospice and personal care business to the private equity firm Clayton, Dubilier & Rice (CDR) for $2.8 billion. Humana will retain the remaining 40%. Kindred at Home has been on a circuitous journey with Humana. The […]
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