Strange Tony,
Humana Inc. (NYSE: HUM) announced the completion of its
acquisition of Kindred at Home (KAH), the nation’s largest home health
and hospice provider.
Phase one of the giant executive
payday has occurred. Financial rapscallions turned $1 billion in equity
into $5.7 billion, a 470% return in three years.
If Causby,
Graham, Kane, Broussard and other accredited investors did as well, their average $2.4
million turned into $8.6 million, a profit of $6.6 million. Executives gained yet another king's ransom while KAH employees got jack squat.
Phase two if the giant executive payday is flipping Kindred Hospice for a multiple of up to 26x EBITDA. Hospice employees will yet again get jack squat.
Anonymous
Executives will make 260% on stock investments not available to the hospice worker. Since Humana bought us I've received not one raise.
ReplyDeleteHumana plans to spin us off under David Causby, whose self serving reign produced tremendous harm to quality hospice patient care.
We were once a nationally recognized hospice for quality of care. Humana did not care that Curo's crappy technology and miserly staffing models drove customer feedback scores into the toilet.
Getting medications now requires a king's decree. They can't figure out our 50% census drop is a direct result of piss poor management.
Humana did not care about the clinicians and staff who made us great. They were all replaceable in corporate's eyes. I am afraid they weren't and for that our hospice suffers.
I dread Humana's spinning us off via an IPO and keeping us under the putzes, David Causby and Larry Graham, who ruined our hospice. It's like a slow, bad death.