Manatt Guides Humana’s Strategic Exit From Gentiva in $900M Transaction

A Manatt team led by Partners  and  and including Associates  and  advised Humana Inc. in entering into a definitive agreement with a consortium of investors to sell all or substantially all of its remaining minority stake in Gentiva Health Services, valuing Humana’s interest at approximately $900 million, and informed the timeline of the transaction through its knowledge of various states change of ownership filings and approval processes. Managing Director also provided separate advice to Humana’s Corporate Department. The transaction represents a significant milestone in Humana’s long-term strategy to streamline its portfolio and redeploy capital toward core operations.

Humana’s stake in Gentiva traces back to its 2021 acquisition of the remaining interest in Kindred at Home, a transaction on which Manatt provided regulatory counsel. Thereafter, the company signaled its intent to divest noncore assets, including hospice, palliative and personal care services. In 2022, those businesses were carved out and restructured with support from Manatt into Gentiva following the sale of a majority interest to Clayton, Dubilier & Rice, creating a standalone platform in the growing home-based care market. This latest transaction completes Humana’s planned exit from the business.

Manatt’s role highlights the Firm’s ability to advise leading health care organizations on complex, multistep strategic transactions spanning acquisitions, carve-outs and divestitures. Drawing on its integrated legal and consulting platform, Manatt regularly supports payors, providers and investors navigating portfolio optimization, regulatory considerations and evolving care delivery models, particularly in high-growth areas and horizontal mergers and divestitures.