Kindred Stockholders Approve Transaction with TPG Capital, Welsh, Carson, Anderson & Stowe and Humana Inc.
April 05 2018 - 10:12AM
Business Wire
Transaction Expected to Close in Summer of
2018
Kindred Healthcare, Inc. (“Kindred” or the “Company”) (NYSE:KND)
today announced that at its special meeting of stockholders,
stockholders approved the transaction with affiliates of TPG
Capital, Welsh, Carson, Anderson & Stowe and Humana Inc.
(NYSE:HUM) (together, the “consortium”). The final vote results
will be reported on a Form 8-K filed with the Securities and
Exchange Commission.
Benjamin A. Breier, President and Chief Executive Officer of
Kindred, said, “We are pleased that the transaction with the
consortium received the broad support of our stockholders in
recognition of the robust process undertaken by the Board to
achieve maximum value. We look forward to completing the
transaction in the coming months and delivering premium cash value
to our stockholders.”
The transaction is expected to close in the summer of 2018.
Barclays and Guggenheim Securities, LLC are serving as financial
advisors to Kindred and Cleary Gottlieb Steen & Hamilton LLP is
serving as legal counsel.
About Kindred
Kindred Healthcare, Inc., a top-105 private employer in the
United States, is a FORTUNE 500 healthcare services company based
in Louisville, Kentucky with annual revenues of
approximately $6.0 billion. At December 31, 2017,
Kindred’s continuing operations, through its subsidiaries, had
approximately 85,300 employees providing healthcare services in
2,471 locations in 45 states, including 75 LTAC hospitals, 19
inpatient rehabilitation hospitals, 13 sub-acute units, 608 Kindred
at Home home health, hospice and non-medical home care sites of
service, 99 inpatient rehabilitation units (hospital-based) and
contract rehabilitation service businesses which served 1,657
non-affiliated sites of service. Ranked as one of Fortune
magazine’s Most Admired Healthcare Companies for nine years,
Kindred’s mission is to promote healing, provide hope, preserve
dignity and produce value for each patient, resident, family
member, customer, employee and shareholder we serve. For more
information, go to www.kindredhealthcare.com. You can also
follow us on Twitter and Facebook.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements are often identified by
words such as “anticipate,” “approximate,” “believe,” “plan,”
“estimate,” “expect,” “project,” “could,” “would,” “should,”
“will,” “intend,” “hope,” “may,” “potential,” “upside,” “seek,”
“continue” and other similar expressions.
Such forward-looking statements are inherently uncertain, and
stockholders and other potential investors must recognize that
actual results may differ materially from Kindred’s expectations as
a result of a variety of factors. Such forward-looking statements
are based upon management’s current expectations and include known
and unknown risks, uncertainties and other factors, many of which
Kindred is unable to predict or control, that may cause Kindred’s
actual results, performance, or plans to differ materially from any
future results, performance or plans expressed or implied by such
forward-looking statements. Risks and uncertainties related to the
proposed transactions include, but are not limited to, the
occurrence of any event, change or other circumstance that could
give rise to the termination of the merger agreement; the failure
of the parties to satisfy conditions to completion of the proposed
merger, including the failure of the parties to obtain required
regulatory approvals; the risk that regulatory or other approvals
are delayed or are subject to terms and conditions that are not
anticipated; changes in the business or operating prospects of
Kindred or its homecare business or hospital business; changes in
healthcare and other laws and regulations; the impact of the
announcement of, or failure to complete, the proposed merger on our
relationships with employees, customers, vendors and other business
partners; and potential or actual litigation. In addition, these
statements involve risks, uncertainties, and other factors detailed
from time to time in Kindred’s Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K
filed with the Securities and Exchange Commission.
Many of these factors are beyond Kindred’s control. Kindred
cautions investors that any forward-looking statements made by
Kindred are not guarantees of future performance. Kindred disclaims
any obligation to update any such factors or to announce publicly
the results of any revisions to any of the forward-looking
statements to reflect future events or developments.
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version on businesswire.com: https://www.businesswire.com/news/home/20180405005732/en/
MediaSusan E. Moss, 502-596-7296Kindred Corporate
CommunicationsorInvestors and AnalystsTodd Flowers,
502-596-6569Kindred Investor Relations
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