Home Health & Hospice Week

Industry Note:

Gentiva Plans To Shed Remaining CareCentrix Stake

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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