Manatt Health partners Robert Belfort and Randi Seigel are serving as health care regulatory counsel to Humana Inc., the third-largest health insurance company in the United States, in its agreement to purchase 60% of Kindred at Home from private equity firms TPG Capital LP and Welsh, Carson, Anderson & Stowe LP at an enterprise value of $8.1 billion.
Belfort and Seigel previously served as regulatory counsel to Humana in creating its joint venture (JV) with TPG Capital and Welsh Carson. The JV purchased the home health and hospice business of Kindred, a Fortune 500 long-term care company with facilities in 46 states, for $4.1 billion. Belfort and Seigel also were regulatory counsel in the JV’s acquisition of Curo, one of the largest U.S. hospice providers, for $1.4 billion. The JV combined Curo’s and Kindred at Home’s hospice businesses to create the country’s largest hospice operator.
Manatt Health’s work on the Kindred and Curo matters included health care regulatory due diligence, advice on structuring to address health care laws and regulations, drafting of health care-related provisions of transaction documents, assistance with state regulatory approvals, and ongoing compliance evaluations.
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The deal announcement was also recognized in Reuters, PE Hub and Louisville Business Journal.