Kindred Healthcare proposes to acquire Gentiva Health for $14.00 per share Kindred Healthcare (KND) announced a proposal to acquire all of the outstanding shares of common stock of Gentiva Health (GTIV) for a combination of $7.00 per share in cash and $7.00 of Kindred common stock. Kindred also offered to increase its offer to 100% cash if the Gentiva Board so elects. The proposed price for Gentiva implies a total equity value of approximately $533M. With the assumption of Gentiva’s debt, the transaction would be valued at approximately $1.6B. The combined company would deliver pro forma annual revenues of approximately $7.2B and generate pro forma EBITDAR of nearly $1B. Kindred believes the transaction would be highly accretive to earnings and operating cash flows, exclusive of one-time items related primarily to transaction and integration costs. Kindred expects the combined company would have operating and financial synergies of approximately $60M-$80M within a period of two years following consummation of the acquisition, with $40 expected in the first year after closing.