Humana Inc. said it would purchase the remaining stake in a home health and hospice provider that it doesn't already own.
Humana on Tuesday said it would acquire a 60% stake in Kindred at Home from TPG's private-equity arm and Welsh, Carson, Anderson & Stowe, another private-equity investor, for $5.7 billion.
The health-insurance company currently owns a 40% minority interest in Kindred, which employs about 43,000 people who provide home health, hospice and other services in 40 states. Humana described the company as the largest home health and hospice provider in the U.S.
"This acquisition reflects Humana's continued commitment to investing in home-based clinical solutions that drive improved patient outcomes, increased satisfaction for patients and providers and value for health plan partners," the company said.
Kindred will be folded into Humana's home solutions business, the company said, and rebranded as CenterWell Home Health.
Humana also said it plans to maintain only a minority interest in Kindred's hospice and community care operations. It is exploring a potential public listing, among other options, for those assets.
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