Strange Tony,
My hospice co-workers learned that our sacrifices of worse health insurance, fewer days off and lesser holiday pay went to enrich Humana by over $1.3 billion, according to their 2022 10-K SEC filing.
Humana reported a $237 million gain on the sale of 60% of KAH Hospice (since renamed Gentiva Hospice) to Clayton, Dubilier and Rice. Humana recognized a $1.1 billion gain on its original 40% stake when it purchased the rest of the company from TPG Capital and Welsh, Carson, Anderson and Stowe.
Our hospice team can feel proud that our personal and financial sacrifices helped enrich highly paid Humana executives.
Humana bought $280 million in KAH Hospice debt as well (debt issued under the corporate name Charlotte Buyer). Should CDR run KAH Hospice (Gentiva) into the ground Humana could be at the bankruptcy table as a creditor.
So far there is no financing information available on Gentiva's purchase of most of ProMedica's hospice division for over $700 million. ProMedica is keeping hospices in Ohio and Michigan.
Humana made over $1.3 billion on the backs of hospice workers with more profit in sight. It's a further sign of the greed that has overtaken hospice in our country.
Anonymous
