DALLAS & NEW YORK—National home health and hospice provider Enhabit, Inc. announced it will be bought by private equity firm Kinderhook Industries in an all-cash transaction for a total enterprise value of approximately $1.1 billion.
Under the terms of the agreement, Enhabit stockholders will receive $13.80 per share in cash, which represents a premium of approximately 24.4% to the company’s closing stock price on February 20, 2026, the last full trading day prior to the announcement of the transaction. Upon completion of the transaction, the company's common stock will no longer be listed on the New York Stock Exchange and Enhabit will become a private company. Enhabit said it will continue operating under the Enhabit name and brand.
“Over the last four years, Enhabit has strengthened its role as a leading national provider of home health and hospice care, and this agreement is a terrific outcome for our stockholders, clinicians, caregivers, patients and their families," said Barb Jacobsmeyer, president and CEO of Enhabit. "Under Kinderhook’s ownership, Enhabit will benefit from additional resources and expertise that will support long-term investments in our people, clinical excellence and innovation without the short-term pressures of the public markets. We look forward to working together to expand access to our critical home health and hospice services for families and their communities.”
“We have long admired Enhabit’s leadership, patient-centric culture and strong market position in home-based care," said Chris Michelin, managing director at Kinderhook. "Kinderhook has a successful 20-year track record of investing in industry-leading companies and partnering with world-class management teams. Our growth-oriented investment strategy provides our management teams with long-term capital and practical support so they can focus on what they do best—running a great company that expands access to care, elevates quality and delivers better outcomes for the patients and families they serve. Enhabit exemplifies exactly the kind of organization we seek to support—and the kind of team we are excited to partner with.”
The companies said the sale is expected to close in the second quarter of 2026, subject to approval by Enhabit stockholders, regulatory approvals and other customary closing conditions.