Last week brought the news that HCA Healthcare (NYSE: HCA) is paying $400 million for an 80% stake in the home health and hospice business of Brookdale Senior Living (NYSE: BKD). The move had long been rumored, with Brookdale’s need to shore up liquidity in the face of pandemic-related expenses adding urgency in recent months.
The deal will bring the Brentwood, Tennessee-based senior living giant $300 million in upfront net proceeds, but the transaction should not be seen merely as a cash windfall. This appears to be a well-structured deal that is a win for the management team led by CEO Cindy Baier, who has been methodically working to turn around the company since taking the helm in 2018.
Sign up for SHN + to read this exclusive content.
Need more than 5 members? Contact us for more information.
* per member
Already a member?
Companies featured in this article:
