Home Health & Hospice Week
Industry Note:
Gentiva Plans To Shed Remaining CareCentrix Stake
Published on Tue Aug 02, 2011
Gentiva Health Services Inc. plans to unload its stake in managed care benefit company CareCentrix Holdings Inc. CareCentrix recently announced a new deal with Aetna in Florida (see Eli's HCW, Vol. XX, No. 30, p. 238). In 2008, Gentiva agreed to sell a 69 percent stake in CareCentrix to a private equity firm for $147 million, reports the Associated Press. By June 2011, it reduced its share to 22 percent. Now the Atlanta-based national home care chain will sell its remaining stake, Gentiva says in a release. The company "expects to realize net cash flow of $65 to $70 million as a result of the transaction," it says. The price of Gentiva shares rose 14 percent on the news, AP notes.
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