Enhabit, Inc. announced on February 23 that it has entered into a definitive agreement to be acquired by Kinderhook Industries, LLC, a middle market private equity firm. Kinderhook Industries is acquiring Enhabit in an all-cash transaction for a total enterprise value of approximately $1.1 billion.
Enhabit is a leading national home health and hospice provider with headquarters in Dallas, Texas. Enhabit’s team of clinicians supports patients and their families where they are most comfortable, with a nationwide footprint spanning 249 home health locations and 117 hospice locations across 34 states. According to its most recent annual filing, Enhabit generated approximately $1.03 billion in fiscal year 2024, and reported an Adjusted EBITDA of $100.1 million.
Founded in 2003, Kinderhook Industries is a private investment firm that has raised more than $10 billion of committed capital. It focuses on growth-oriented investments. The company has made in excess of 500 investments and follow-on acquisitions since inception.
Upon completion of the transaction, Enhabit’s common stock will no longer be listed on the New York Stock Exchange, and Enhabit will become a private company. Enhabit will continue operating under the Enhabit name and brand.
Goldman Sachs is serving as exclusive financial advisor and Jones Day is serving as legal counsel to Enhabit. Joele Frank Wilkinson Brimmer Katcher is serving as strategic communications advisor to Enhabit. Guggenheim Securities, LLC is serving as exclusive financial advisor and Kirkland & Ellis LLP is serving as legal counsel to Kinderhook.
According to data captured in the LevinPro HC database, this marks the 18th Home Health & Hospice (HH&H) transaction announced in 2026. This also represents the largest deal by purchase price announced in the HH&H sector so far this year. There were 111 HH&H deals announced during full year (FY) 2025, 98 announced during FY 2024 and 100 announced during FY 2023.
