Gentiva Board of Directors Rejects Unsolicited Proposal From Kindred
Board Determines Proposal Significantly Undervalues Company and Its Prospects
ATLANTA, May 15, 2014
ATLANTA, May 15, 2014 /PRNewswire/ -- Gentiva Health Services, Inc. ("Gentiva"
or the "Company") (Nasdaq: GTIV) today confirmed that after careful
consideration, its Board of Directors, with the assistance of its legal and
financial advisors, has rejected an unsolicited, non-binding acquisition
proposal from Kindred Healthcare, Inc. ("Kindred"). The Board concluded that
the Kindred proposal significantly undervalues Gentiva and its attractive
prospects for growth and value creation.
Gentiva's Board of Directors has thoroughly evaluated the successive,
non-binding proposals made to its Executive Chairman and Chief Executive
Officer, dated April 14 and May 5, 2014.
Rod Windley, Executive Chairman of Gentiva, said: "Our Board and our highly
capable management team are confident that we can create significantly greater
value for our shareholders by continuing to execute our One Gentiva
initiative, along with the balance of our strategic plan. Our focus is on
Gentiva shareholders, who would be denied the value they deserve and can
expect to receive as we capitalize on our strong positioning in Home
Healthcare, Hospice and Community Care."
Gentiva has retained Greenberg Traurig, LLP as its legal advisor and Barclays
Capital and Edge Healthcare Partners LLC as its financial advisors.
About Gentiva Health Services, Inc.
Gentiva Health Services, Inc. is one of the nation's largest providers of home
health, hospice and community care services, delivering innovative, high
quality care to patients across the United States. Gentiva is a single source
for skilled nursing; physical, occupational, speech and neurorehabilitation
services; hospice services; social work; nutrition; disease management
education; help with daily living activities; and other therapies and
Kekst and Company
Lissa Perlman (212) 521-4830
Tom Davies (212) 521-4873
Financial and Investor Contact:
SOURCE Gentiva Health Services, Inc.
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