Manatt Provides Counsel to Humana in $3.4B Agreement to Divest Majority Interest in Kindred at Home

Manatt Health Partners Robert Belfort and Randi Seigel acted as legal advisors to Humana Inc., one of the largest health insurance companies in the United States, in its agreement with private investment firm Clayton, Dubilier & Rice to divest a majority interest in two divisions of Humana’s Kindred at Home subsidiary.

Under the agreement, Humana will divest a 60% interest in Kindred at Home and receive cash proceeds of approximately $2.8 billion, reflecting an enterprise valuation of $3.4 billion. The transaction is expected to close in the third quarter of 2022. Upon the closing of the transaction, the Hospice and Personal Care divisions will be restructured into a stand-alone operation.

Belfort and Seigel previously served as regulatory counsel to Humana 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 in May 2021. The team also counseled Humana in the creation of its joint venture with TPG Capital and Welsh Carson.

To learn more about this deal, click here.

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