LifePoint Health’s Acquisition of Kindred Healthcare

Sidley Austin LLP advised LifePoint Health on the deal, while Debevoise & Plimpton LLP advised TPG Capital, Welsh, Carson, Anderson & Stowe and Kindred Healthcare LLC.

LifePoint Health and Kindred Healthcare announced they have entered into a definitive agreement for LifePoint to acquire Kindred Healthcare. The combination of LifePoint Health and Kindred Healthcare will create a leading diversified healthcare delivery network with expanded services, resources, and expertise to grow and invest in community healthcare while advancing LifePoint’s mission of Making Communities Healthier.

The transaction brings together LifePoint’s national network of community-based hospitals, providers, and access points with Kindred’s expertise in delivering long-term acute care, rehabilitation services and behavioral health services. The go-forward company will be positioned to respond more comprehensively to patients’ needs across the healthcare continuum, guided by LifePoint’s commitment to quality and compliance.

Barclays and Guggenheim Securities, LLC are serving as financial advisors to Kindred and Debevoise & Plimpton LLP and Mintz Levin are serving as legal counsel to Kindred. Financing for the transaction is being provided by Barclays, Citi, and RBC Capital Markets. Citi and RBC Capital Markets are also acting as financial advisors to LifePoint Health. Sidley Austin LLP and Paul, Weiss, Rifkind, Wharton & Garrison are serving as legal counsel to LifePoint Health.

LifePoint Health® is a leading healthcare company dedicated to Making Communities Healthier®. Through its subsidiaries, it provides quality inpatient, outpatient and post-acute services close to home.

Kindred Healthcare, LLC is the nation’s leading specialty hospital company delivering acute health services in its long-term acute care hospitals, inpatient rehabilitation hospitals, acute rehabilitation units, and behavioral health line of business, all specializing in treating the most medically complex patients.

The Sidley Team was led by New York Private Equity partners Adam Weinstein (Picture) and Tony Feuerstein as well as Chicago Healthcare partner Meena Datta. The Corporate team included associates Sara Carian, Christian Bennardo, Kathryn Betts, Roy Cohen, Robert Garritano, Katherine Gomer, Ashley Krause, Isaiah Marcano, Jake McDonough, and Taylor Wood. The Healthcare team was also led by partner Jaime Jones and associate Jon Zucker and, in addition, included partner Catherine Starks as well as associates Jesse Burbank, Megan Coggeshall, Whitney Nebolisa, Kim Schroer, Catherine Stewart, and Meghan Weinberg. Partners Ankur Gupta and Ben Kirschner provided healthcare real estate counsel. Real Estate partners Rob Golub and Adam Verstandig as well as associates Einass Abdelmoula, Darby Brown, Maria Hera, S. Joey Lam, Michael Mouridy, Ethan Munsill, Maeghan Murphy, Will Otter, Jessica Royel, Matt Wholey, and Michael David Williams supported this transaction. Additional team members include: Employee Benefits partner Laruen Gallagher and associates Karim Pirani and Tom Topping; Labor, Employment and Immigration counsel Eric Hoffman and associates Natalie Chan and Emily Morgan; Technology & IP Transactions partner Jennifer Coplan, counsel Dusan Clark, and associates Rachelle Soderstrom and Grace Walton; Telecom and Internet Competition senior counsel Mark Schneider; FCC associate Marc Korman; Privacy and Cybersecurity partner Sujit Raman as well as associates Stephen McInerney and Mark Prior; Litigation partners Chris Egleson and Alex Kaplan as well as associates Ariel Atlas, Cassandra Liu, Debbie Sands, and Charlotte Newell.

The Debevoise team was led by M&A partner Andrew Bab and included associates David Becker, Yean Do, Robert Geren, Kim Le, Priscila Park and Elina Sigal, finance associate Ryan Rafferty, benefits partner Lawrence Cagney and associate Zain Kazmi, tax partner Gary Friedman and associate Samuel Krawiecz, antitrust partner Ted Hassi and intellectual property partner Henry Lebowitz and associate Paisley Piasecki.

Involved fees earner: Andrew Bab – Debevoise & Plimpton; David Becker – Debevoise & Plimpton; Lawrence Cagney – Debevoise & Plimpton; Yean Do – Debevoise & Plimpton; Gary Friedman – Debevoise & Plimpton; Robert Geren – Debevoise & Plimpton; Ted Hassi – Debevoise & Plimpton; Zain Kazmi – Debevoise & Plimpton; Samuel Krawiecz – Debevoise & Plimpton; Kim Le – Debevoise & Plimpton; Henry Lebowitz – Debevoise & Plimpton; Ryan Rafferty – Debevoise & Plimpton; Elina Sigal – Debevoise & Plimpton; Priscila Sun Min Park – Debevoise & Plimpton; Ariel Atlas – Sidley Austin LLP; Christian Bennardo – Sidley Austin LLP; Kathryn Betts – Sidley Austin LLP; Darby Brown – Sidley Austin LLP; Jesse Burbank – Sidley Austin LLP; Sara Carian – Sidley Austin LLP; Natalie Chan – Sidley Austin LLP; Dusan Clark – Sidley Austin LLP; Megan Coggeshall – Sidley Austin LLP; Jennifer Coplan – Sidley Austin LLP; Meenakshi Datta – Sidley Austin LLP; Christopher Egleson – Sidley Austin LLP; Tony Feuerstein – Sidley Austin LLP; Lauren Gallagher – Sidley Austin LLP; Robert Garritano – Sidley Austin LLP; Robert Golub – Sidley Austin LLP; Katherine Gomer – Sidley Austin LLP; Ankur Gupta – Sidley Austin LLP; Maria Hera – Sidley Austin LLP; Eric Hoffman – Sidley Austin LLP; Jaime Jones – Sidley Austin LLP; Alex Kaplan – Sidley Austin LLP; Benjamin Kirschner – Sidley Austin LLP; Marc Korman – Sidley Austin LLP; Ashley Krause – Sidley Austin LLP; Joey Lam – Sidley Austin LLP; Cassandra Liu – Sidley Austin LLP; Isaiah Marcano – Sidley Austin LLP; Stephen McInerney – Sidley Austin LLP; Ethan Miller Munsill – Sidley Austin LLP; Emily Morgan – Sidley Austin LLP; Michael Mouridy – Sidley Austin LLP; Maeghan Murphy – Sidley Austin LLP; Whitney Nebolisa – Sidley Austin LLP; Charlotte Newell – Sidley Austin LLP; Karim Pirani – Sidley Austin LLP; Mark Prior – Sidley Austin LLP; Sujit Raman – Sidley Austin LLP; Jessica Royel – Sidley Austin LLP; Deborah Sands – Sidley Austin LLP; Mark Schneider – Sidley Austin LLP; Kim Schroer – Sidley Austin LLP; Rachelle Soderstrom – Sidley Austin LLP; Catherine Starks – Sidley Austin LLP; Catherine Stewart – Sidley Austin LLP; Tom Topping – Sidley Austin LLP; Adam Verstandig – Sidley Austin LLP; Grace Walton – Sidley Austin LLP; Meghan F. Weinberg – Sidley Austin LLP; Adam Weinstein – Sidley Austin LLP; Matt Wholey – Sidley Austin LLP; Michael David Williams – Sidley Austin LLP; Taylor Wood – Sidley Austin LLP; Jon Zucker – Sidley Austin LLP;

Law Firms: Debevoise & Plimpton; Sidley Austin LLP;

Clients: Kindred Healthcare; LifePoint Health Inc; TPG Capital; Welsh, Carson, Anderson & Stowe;

Author: Martina Bellini