US healthcare provider Humana and private equity firms TPG Capital and Welsh, Carson, Anderson & Stowe (WCAS) have jointly agreed to buy North Carolina-based Curo Health Services for approximately $1.4 billion.
Curo is one of the largest hospice operators in the US serving patients at 245 locations in 22 states.
Humana said it will take a 40 percent stake in Curo Health. The deal is expected to close in summer 2018.
Following the completion, the consortium intends to merge Curo with the hospice business of Kindred. In December 2017, Humana signed a definitive agreement to acquire 40 percent stake in the homecare business of Louisville-based Kindred Healthcare for around $800 million.
Humana does not expect the deal to have a material impact on its earnings.
Humana, TPG Capital, Welsh, Carson, Anderson & Stowe, WCAS, Curo Health Services, M&A, Acquisition, Private equity, US