Gentiva to cross $1 billion mark
Melville, N.Y. - Gentiva announced Jan. 5 that it has entered into an agreement to acquire the Healthfield Group for $454 million. The price includes $399 million in cash and shares of Gentiva common stock valued at $55 million. Healthfield is a home healthcare and hospice provider with 130 locations in the Southeast. The company also offers a complete range of durable medical and respiratory equipment and infusion therapy services. The deal will make Gentiva one of the nation's 10 largest hospice providers and position it for expansion. Gentiva chairman and CEO Ron Malone said in a statement that the company will exceed $1 billion in net revenues with the transaction. The deal is expected to close in the first quarter of 2006.