Monday, January 13, 2014

Gentiva's New Band of Wealthy Brothers Profit while Employees Suffer PTO Cut


Gentiva issued $53 million in stock, roughly 4.8 million shares, as part of Harden Healthcare's purchase price.  After holding such shares less than two months, Gentiva filed a prospectus for these shareholders to potentially flip their shares.

Should the listed stockholders have sold their shares at today's closing price, they would've made $4.3 million in less than two months.  The biggest winner is R. Steven Hicks with over $27 million in proceeds.  Hicks is the new Vice Chairman of Gentiva's board.

Senior Executives cut employee PTO across the board in a January 9 Executive Memo, likely with board approval.  It will be a Happy New Year for a select few at the top at Gentiva.  The rest, not so much. 

I appreciate your posting my Gentiva finds on your blog.  They've been coming fast and furious.  I do want to hear how things are at Generic Hospice.  Please tell me greed, arrogance and hubris have not overtaken your company as well.  Sincerely,


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