Fried Frank acted as counsel to Humana Inc. (NYSE: HUM) as part of a consortium with TPG Capital and Welsh, Carson, Anderson & Stowe in its definitive agreement to acquire Curo Health Services for approximately US$1.4 billion, in which Humana will have a 40% minority interest. Curo Health Services is a major hospice operator in the United States serving patients at 245 locations in 22 states.
The consortium previously announced a pending transaction to acquire the Kindred at Home Division (“Kindred at Home”) of Kindred Healthcare, Inc. (NYSE: KND), the nation's largest home health provider and second largest hospice operator. The Curo transaction is not conditioned upon the closing of the consortium's separate acquisition of Kindred at Home and is expected to occur after the closing of Kindred at Home. Upon the closing of these transactions, the consortium intends to merge Curo with the hospice business of Kindred at Home to create the country's largest hospice operator.
The Fried Frank team was led by corporate partner Brian T. Mangino and included corporate partner Stewart A. Kagan; executive compensation & ERISA partner Adam Kaminsky; intellectual property and technology partner Amir R. Ghavi; litigation partner Peter L. Simmons; tax partner Alan S. Kaden; corporate special counsel Jose R. Morales; corporate real estate special counsel Jessica H. Mayes; litigation special counsel Justin J. Santolli; corporate associates Kendra Clark, Stacey Harlow, Adam S. Natan, and Adam J. Ross; environmental associate Mary Beth Phipps; executive compensation & ERISA associates Maggie A. Kornreich and Jaclyn I. Waters; intellectual property and technology associate Marli Sussman; and tax associate Shane C. Hoffmann.