Back to News 8/17/21 LOUISVILLE, Ky.--(BUSINESS WIRE)-- 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. With the addition of Kindred at Home, Humana is now the nation’s largest provider of care in the home, significantly strengthening its ability to provide high-quality, whole-person healthcare that can improve patient health outcomes on a much broader scale. Humana is committed to delivering excellent clinical care and superior outcomes for patients across all of its lines of business. KAH caregivers provide home health, hospice and personal care services to over 550,000 patients annually. KAH’s home health operations are being integrated into Humana’s Home Solutions business and will adopt Humana’s new payer-agnostic healthcare services brand – CenterWell – transitioning to CenterWell Home Health beginning in 2022. KAH’s hospice and personal care lines of business will continue to deliver quality care for patients needing these important services. “We are pleased to complete the acquisition of Kindred at Home and fully integrate their home health services and clinical expertise into Humana’s value-based home health business,” said Bruce D. Broussard, Humana’s President and Chief Executive Officer. “The addition of Kindred at Home will help us significantly expand our home health offering, with a focus on accelerating clinical innovation, improving patient outcomes, increasing satisfaction for patients and providers, reducing the total cost of care and providing greater value for health plan partners.” “We are excited to welcome all of the Kindred at Home associates to Humana. Through this acquisition, we are adding thousands of caregivers, nurses, therapists and physicians to our teams, and are confident in the clinical skills, expertise and patient centricity they will bring to Humana’s Home Solutions business,” said Greg Sheff, interim president for Humana’s Home Solutions segment. “We look forward to working closely together to grow our value-based home health offering and find new ways to positively change the future of home healthcare.” Cautionary Statement This news release includes forward-looking statements regarding Humana within the meaning of the Private Securities Litigation Reform Act of 1995. When used in investor presentations, press releases, Securities and Exchange Commission (SEC) filings, and in oral statements made by or with the approval of one of Humana’s executive officers, the words or phrases like “expects,” “believes,” “anticipates,” “intends,” “likely will result,” “estimates,” “projects” or variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and assumptions, including, among other things, information set forth in the “Risk Factors” section of the company’s SEC filings, a summary of which includes but is not limited to the following: To the extent that the spread of COVID-19 is not contained, the premiums the company charges may prove to be insufficient to cover the cost of health care services delivered to its members, which may increase significantly as a result of higher utilization rates of medical facilities and services and other increases in associated hospital and pharmaceutical costs. Humana may also experience increased costs or decreased revenues if, as a result of the company’s members being unable or unwilling to see their providers due to actions taken to mitigate the spread of COVID-19, Humana is unable to implement clinical initiatives to manage health care costs and chronic conditions of its members, and appropriately document their risk profiles. In addition, Humana is offering, and has been mandated by legislative and regulatory action (including the Families First Act and CARES Act) to provide, certain expanded benefit coverage to its members, such as waiving out of pocket costs for COVID-19 testing and treatment. Humana is also taking actions designed to help provide financial and administrative relief for the health care provider community. Such measures and any further steps taken by Humana, or governmental action, to continue to respond to and address the ongoing impact of COVID-19 (including further expansion or modification of the services delivered to its members, the adoption or modification of regulatory requirements associated with those services and the costs and challenges associated with ensuring timely compliance with such requirements), to provide further relief for the health care provider community, or in connection with the relaxation of stay-at-home and physical distancing orders and other restrictions on movement and economic activity, including the potential for widespread testing and therapeutic treatments and the distribution and administration of COVID-19 vaccines, could adversely impact the company’s profitability. The spread and impact of COVID-19, or actions taken to mitigate this spread, could have material and adverse effects on Humana’s ability to operate effectively, including as a result of the complete or partial closure of facilities or labor shortages. Disruptions in public and private infrastructure, including communications, availability of in-person sales and marketing channels, financial services and supply chains, could materially and adversely disrupt the company’s normal business operations. Humana has transitioned a significant subset of its employee population to a remote work environment in an effort to mitigate the spread of COVID-19, as have a number of the company’s third-party service providers, which may exacerbate certain risks to Humana’s business, including an increased demand for information technology resources, increased risk of phishing and other cybersecurity attacks, and increased risk of unauthorized dissemination of sensitive personal information or proprietary or confidential information about the company or its members or other third-parties. The outbreak of COVID-19 has severely impacted global economic activity, including the businesses of some of Humana’s commercial customers, and caused significant volatility and negative pressure in the financial markets. In addition to disrupting Humana’s operations, these developments may adversely affect the timing of commercial customer premium collections and corresponding claim payments, the value of the company’s investment portfolio, or future liquidity needs. The ongoing, heightened uncertainty created by the pandemic precludes any prediction as to the ultimate adverse impact to Humana of COVID-19. Humana is continuing to monitor the spread of COVID-19, changes to the company’s benefit coverages, and the ongoing costs and business impacts of dealing with COVID-19, including the potential costs and impacts associated with lifting or reimposing restrictions on movement and economic activity, the timing and degree in resumption of demand for deferred healthcare services, the pace of administration of COVID-19 vaccines and the effectiveness of those vaccines, and related risks. The magnitude and duration of the pandemic and its impact on Humana’s business, results of operations, financial position, and cash flows is uncertain, but such impacts could be material to the company’s business, results of operations, financial position and cash flows. In making forward-looking statements, Humana is not undertaking to address or update them in future filings or communications regarding its business or results. In light of these risks, uncertainties, and assumptions, the forward-looking events discussed herein may or may not occur. There also may be other risks that the company is unable to predict at this time. Any of these risks and uncertainties may cause actual results to differ materially from the results discussed in the forward-looking statements. Humana advises investors to read the following documents as filed by the company with the SEC for further discussion both of the risks it faces and its historical performance: About Humana Humana Inc. is committed to helping our millions of medical and specialty members achieve their best health. Our successful history in care delivery and health plan administration is helping us create a new kind of integrated care with the power to improve health and well-being and lower costs. Our efforts are leading to a better quality of life for people with Medicare, families, individuals, military service personnel, and communities at large. To accomplish that, we support physicians and other health care professionals as they work to deliver the right care in the right place for their patients, our members. Our range of clinical capabilities, resources and tools – such as in-home care, behavioral health, pharmacy services, data analytics and wellness solutions – combine to produce a simplified experience that makes health care easier to navigate and more effective. More information regarding Humana is available to investors via the Investor Relations page of the company’s website at humana.com, including copies of: Lisa Stoner Mark Taylor Source: Humana Inc. Multimedia Files: Logo.jpg 600 x 181 jpg 28 KB
Humana Investor Relations
(502) 580-2652
e-mail: lstamper@humana.com
Humana Corporate Communications
(317) 753-0345
e-mail: mtaylor108@humana.com
Humana Completes Acquisition of Kindred at Home (2024)
References
- https://www.caring.com/senior-care/in-home-care/kindred-at-home/
- https://press.humana.com/news/news-details/2021/Humana-Completes-Acquisition-of-Kindred-at-Home/default.aspx
- https://press.humana.com/news/news-details/2022/Humana-Launches-CenterWell-Home-Health/default.aspx
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