Enhabit Completes Acquisition by Kinderhook Industries, Transitions to Private Company

Under the terms of the transaction, Kinderhook acquired Enhabit for $13.80 per share in cash. Following the completion of the deal, Enhabit’s common stock has been delisted from the New York Stock Exchange, effective immediately.

Enhabit has completed its previously announced acquisition by Kinderhook Industries, officially transitioning the home health and hospice provider into a privately held company.

Under the terms of the transaction, Kinderhook acquired Enhabit for $13.80 per share in cash. Following the completion of the deal, Enhabit’s common stock has been delisted from the New York Stock Exchange, effective immediately.

Enhabit President and CEO Barb Jacobsmeyer said the company expects to use Kinderhook’s financial and operational resources to support growth initiatives, strengthen clinical capabilities, and expand patient access to home-based care services.

Kinderhook Managing Director Chris Michalik said the investment firm plans to work closely with Enhabit’s leadership team to support continued expansion and operational growth.

Enhabit operates 251 home health locations and 117 hospice locations across 35 US states. The company provides home-based clinical and hospice care services through a nationwide network focused on patient care delivery outside traditional hospital settings.

The acquisition marks another significant private equity transaction in the home healthcare sector, where investors continue to target providers positioned to benefit from rising demand for in-home and post-acute care services.

Founded in 2003, Kinderhook Industries has raised more than $11 billion in committed capital and completed over 500 investments and follow-on acquisitions. The firm primarily invests in middle-market companies across healthcare services, industrial services, environmental services, automotive, and manufacturing sectors.

As part of the transaction, Goldman Sachs served as Enhabit’s exclusive financial advisor, while Jones Day acted as legal counsel. Guggenheim Securities advised Kinderhook financially, and Kirkland & Ellis served as legal counsel to the private equity firm.

Stay tuned for more such updates on Digital Health News