Humana and its financial rapscallion partners used "Kentucky Homecare" to acquire Kindred at Home and Curo Health Services. Humana and Kindred at Home executives had the opportunity to take their proceeds from the June 2018 buyout and invest in Kentucky Homecare shares.
Kindred at Home executive David Causby and Curo Health founder Larry Graham were part of the initial 37 private accredited investors. They likely have a larger stake than the average investor, nearly $2.5 million, in Kentucky Homecare's private placement.
Humana CEO Bruce Broussard expected to close buying the rest of Kindred at Home in mid-August, i.e. any day now. AM Best indicated Humana would take Kindred/Curo Hospice public via an IPO.
It remains to be seen what Humana actually does, but I am cheering for a public offering. I've had enough of working for greedy financial rapscallions.
Anonymous
Humana Inc. (NYSE: HUM) today announced the successful completion of its acquisition of Kindred at Home (KAH), the nation’s largest home health and hospice provider. 8-17-21
ReplyDeletePhase 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 and other accredited investors did as well, their average $2.4 million turned into $13.7 million, a profit of $11.3 million.
Executives gain yet another king's ransom while employees get 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.
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