Humana Inc, TPG Capital and Welsh, Carson, Anderson & Stowe have closed their previously announced buyout of Curo Health Services. The seller was Thomas H. Lee Partners. No financial terms were disclosed; however, an earlier report pegged the amount at $1.4 billion. Curo is an hospice operator.
LOUISVILLE, Ky. & SAN FRANCISCO & NEW YORK & MOORESVILLE, N.C.–(BUSINESS WIRE)–Humana Inc. (NYSE: HUM), TPG Capital (TPG) and Welsh, Carson, Anderson & Stowe (WCAS) (collectively, the Consortium) today announced the completion of the previously announced acquisition of Curo Health Services (Curo), one of the nation’s leading hospice operators providing care to patients at 245 locations in 22 states, from Thomas H. Lee Partners.
The Consortium intends to combine Curo with the hospice business of Kindred at Home to create the country’s largest hospice operator.
TPG is a leading global alternative asset firm founded in 1992 with approximately $84 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth venture, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com.
About Welsh, Carson, Anderson & Stowe (WCAS)
WCAS focuses its investment activity in two target industries: technology and healthcare. Since its founding in 1979, WCAS has organized 16 limited partnerships with total capital of over $22 billion. The Firm is currently investing an equity fund, Welsh, Carson, Anderson and Stowe XII, L.P., which closed on over $3.3 billion in commitments. WCAS has a current portfolio of approximately twenty companies. WCAS’s strategy is to partner with outstanding management teams and build value for its investors through a combination of operational improvements, internal growth initiatives and strategic acquisitions. See www.wcas.com to learn more.
Humana Inc. is committed to helping our millions of medical and specialty members achieve their best health. Our successful history in care delivery and health plan administration is helping us create a new kind of integrated care with the power to improve health and well-being and lower costs. Our efforts are leading to a better quality of life for people with Medicare, families, individuals, military service personnel, and communities at large.
To accomplish that, we support physicians and other health care professionals as they work to deliver the right care in the right place for their patients, our members. Our range of clinical capabilities, resources and tools – such as in-home care, behavioral health, pharmacy services, data analytics and wellness solutions – combine to produce a simplified experience that makes health care easier to navigate and more effective.
More information regarding Humana is available to investors via the Investor Relations page of the company’s website at humana.com, including copies of:
Annual reports to stockholders;
Securities and Exchange Commission filings;
Most recent investor conference presentations;
Quarterly earnings news releases and conference calls;
Calendar of events; and
Corporate Governance information.
About Curo Health Services
Curo Health Services is a hospice care provider operating 245 agencies in 22 states. Curo is committed to clinical excellence with compassion and dignity when life matters most. The company’s mission is to honor life and offer compassion to our patients, and their families, when facing a life-limiting illness. For more information, follow Curo at www.curohs.com.
About Kindred at Home
Kindred at Home is primarily a home health, hospice and community care services company with annual revenues of approximately $2.6 billion(1). At March 31, 2018, Kindred at Home through its subsidiaries had approximately 46,000 employees providing healthcare in 606 home health, hospice and non-medical home care sites of service in 40 states. For more information, go to www.kindredhealthcare.com. You can also follow us on Twitter and Facebook.
(1) Revenues for the last twelve months ended March 31, 2018.