Gentiva Health Services, Inc. (NASDAQ: GTIV) ("Gentiva" or "the Company"), the largest provider of home health and hospice services in the United States based on revenue, announced the closing of its acquisition of Harden Healthcare Holdings, Inc. ("Harden"). Under the terms of the merger agreement, Gentiva acquired Harden's home health, hospice and community care businesses. Harden's existing shareholders retained the company's long-term care business.
The purchase price paid by Gentiva was $408.8 million, consisting of $355 million in cash and $53.8 million in Gentiva common stock. Gentiva funded the cash portion of the purchase price through available cash and a new credit facility. As part of the new credit facility, the Company entered into a new $825 million term loan facility which was used to fund the transaction and refinance its existing term loans.
"I would like to welcome all of the Harden employees to the Gentiva family," said Gentiva CEO Tony Strange. "This merger positions Gentiva to be a leading provider of home health, hospice and community care services and enables us to come together as one team to provide compassionate care to more than 110,000 patients and their families each day."
Top minds in multiple sclerosis to speak at CMSC 38th Annual Meeting