CD&R-, Humana-Backed Gentiva Inks $710 Million Hospice Deal (1)

Gentiva, a hospice company backed by Clayton Dubilier & Rice and Humana Inc., has agreed to acquire a business from not-for-profit health-care system ProMedica, Gentiva’s chief executive officer said.

Gentiva’s deal for hospice and home-care assets from ProMedica’s Heartland is valued at $710 million, including debt, according to people familiar with the matter, who asked not to be identified because the information is private.

CEO David Causby said in an interview that Atlanta-based Gentiva is the biggest hospice company in the US by revenue and number of patients. The deal will expand its reach to more than 500 ...