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Stock Market & Financial Investment News

News Breaks
July 9, 2014
08:17 EDTGTIV, KNDGentiva Health says Kindred Healthcare offer 'substantially undervalues' company
Rod Windley, Executive Chairman of Gentiva (GTIV), says “Kindred’s (KND) offer grossly undervalues Gentiva and is not in the best interest of Gentiva stockholders.” The company notes, "Kindred’s opportunistic offer substantially undervalues Gentiva . The timing of the offer seeks to exploit a temporary decline in Gentiva’s share price; Kindred’s offer attempts to set a value for Gentiva before the Company’s financials fully reflect the benefits of recent and substantial strategic initiatives and investments; Applying Gentiva’s peers’ average valuation multiple to the mid-point of Gentiva’s recently released 2014 Adjusted EBITDA guidance implies a standalone stock price significantly higher than Kindred’s offer, even before accounting for expected synergies and a control premium; Gentiva’s scale as one of the largest providers of home-based healthcare services in the nation, the diversity of its services, as well as its superior operating margins make it an industry leader; and Industry leaders within the healthcare services sector have historically traded and/or transacted at premium valuations as compared to their respective peer groups. Kindred’s proposal would eliminate the ability of Gentiva’s stockholders to capture the significant value and upside associated with: The continued integration of Harden; The strategic and operational efficiencies of One Gentiva." The Gentiva Board encourages all stockholders to view the presentation, which has also been posted on the Investors section of the company’s website, and urges stockholders not to tender their shares to Kindred.
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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