Humana will finally discard its 35% remnant of Gentiva Hospice for almost $1 billion. I recall the hope our hospice staff had when Humana and two financial rapscallions (majority owners) bought Kindred Healthcare's hospice division in summer 2018. Staff expected professional human resources where pay scales had integrity and local management showed likewise.
However, operating partner Humana proceeded to decimate our once nationally recognized hospice and did so in a far crueler way than Kindred's pinhead numbskulls.
Let's just say the slide has been long and far more inhumane than any hospice employee could imagine.
Humana exits Gentiva Hospice with a final cash bonanza. $900 million for 35% of the company? That values Gentiva at $2.6 billion.
Humana SEC filings show Gentiva revenue to have risen from $1.85 billion in 2023 to $2.05 billion in 2025. Operating losses for the last three years were $23 million, $92 million and $84 million. The heavy interest expense burden must be weighing on the company's financials combined with ownership's ability to shrink Gentiva's overall revenues. Note: Humana ingested the home health division and Gentiva's personal care services were sold off later.
Staff reviews on Glassdoor and Indeed show the same employee abuse themes that Humana, TPG and WCAS foisted on us in 2018. I thought management was supposed to learn from their mistakes, not multiply them.
Nearly all the people I worked with at our local hospice site have left. Many are with other hospices and say things are better outside Gentiva.
The 35% is going to a consortium of investors. That's a remarkable lack of detail. Maybe a future Humana SEC filing will shed more light. I doubt it. Humana is not know for bringing light.
Anonymous
