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Stock Market & Financial Investment News

News Breaks
May 15, 2014
06:03 EDTKND, GTIVKindred 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.
News For GTIV;KND From The Last 14 Days
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February 9, 2016
17:05 EDTKNDKindred acquires Control licenses in South Carolina for home health services
Kindred acquired from the South Carolina Department of Health and Environmental Control licenses to provide home health services in all 46 counties in South Carolina for approximately $18M. Kindred reached an agreement with DHEC following a state bidding process. The agreement took effect January 1, 2016, and immediately expands Kindred's services from 10 offices serving 22 counties to 19 offices serving the entire state of South Carolina. As part of the license transfer agreement, Kindred agreed to hire all employees and agreed to take over patients upon consent. Upon completion, 72 employees accepted the Company's offer of employment and 650 patients granted consent to the Company's care. With this platform, Kindred intends to open additional offices and expand its home health services in the state. The Company has been providing home health services in South Carolina since it acquired Gentiva Health Services in February 2015.
17:02 EDTKNDKindred Healthcare expands its home health operations
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