Berlin, Germany — May 13, 2026 — Shareholders of Enhabit Inc., a leading provider of home health and hospice services, have overwhelmingly approved the company’s $1.1 billion acquisition by Kinderhook Industries, marking a pivotal transition from public to private ownership. The vote, held in a special meeting on Tuesday, saw nearly 95% of shareholders affirm the merger proposal, with Enhabit now poised to delist its stock and complete the transaction by Friday, subject to closing conditions.
The acquisition represents a landmark deal in the healthcare sector, with Enhabit’s stockholders set to receive $13.80 per share in cash—a premium of approximately 24.4% over the company’s closing stock price on February 20, 2026, the last full trading day before the deal was announced. This premium reflects a 33.8% increase over Enhabit’s 60-day volume-weighted average share price during the period ending February 20, according to financial analysts tracking the transaction.
With the vote secured, Enhabit joins a growing trend of healthcare providers transitioning to private equity ownership, allowing for long-term investments in clinical excellence and innovation without the constraints of public market pressures. The company’s leadership, including President and CEO Barb Jacobsmeyer, has emphasized that the partnership with Kinderhook will enable expanded resources for patient care and workforce development.
Why This Deal Matters: A Shift in Home Health and Hospice Care
Enhabit’s acquisition by Kinderhook Industries is more than a financial transaction—it represents a strategic realignment in the delivery of home health and hospice services across the United States. With operations spanning 249 home health locations and 117 hospice locations in 34 states, Enhabit serves a critical role in providing compassionate, patient-centered care in communities nationwide. The move to private ownership could accelerate innovation in care delivery models, particularly in value-based care initiatives that prioritize patient outcomes over short-term financial metrics.
Kinderhook Industries, a middle-market private equity firm with over $10 billion in committed capital, has built a diversified healthcare portfolio that includes Better Health Group, a value-based primary care provider, and Avita Care Solutions, a healthcare and pharmacy services company. By adding Enhabit to its portfolio, Kinderhook solidifies its position as a key player in transforming how home-based healthcare is delivered in the U.S.
Key Details of the Shareholder Vote
The shareholder vote was a resounding endorsement of the deal, with 36,312,000 votes in favor, 18,275 votes opposed, and 10,917 abstentions, according to publicly available documents. This overwhelming approval—representing approximately 95% of the total votes cast—reflects confidence in the transaction’s value proposition for shareholders. The deal is expected to close on Friday, May 16, 2026, pending the satisfaction of closing conditions, including regulatory approvals and finalization of financial terms.
For Enhabit’s stockholders, the $13.80 per share offer provides a significant premium over recent trading levels, incentivizing participation in the vote. The transaction also eliminates the volatility and short-term pressures often associated with public company ownership, allowing Enhabit to focus on long-term growth and patient care initiatives.
What Happens Next: Enhabit’s Transition to Private Ownership
Following the completion of the acquisition, Enhabit will operate as a private company under Kinderhook’s ownership while retaining its name, brand, and operational independence. This transition is expected to unlock new opportunities for investment in technology, workforce development, and clinical innovation—key priorities for Enhabit’s leadership.
Barb Jacobsmeyer, President and CEO of Enhabit, has emphasized that the partnership with Kinderhook will enable the company to “support investments in people, clinical excellence, and innovation” without the constraints of public market expectations. This shift could lead to expanded access to home health and hospice services, particularly in underserved communities where Enhabit operates.
For patients and families relying on Enhabit’s services, the transition is expected to be seamless, with no immediate changes to care delivery or staffing. The company has committed to maintaining its existing service offerings, including skilled nursing, physical therapy, occupational therapy, speech therapy, medical social work, and home health aide services, as well as its hospice care programs.
Broader Implications for the Healthcare Industry
The Enhabit-Kinderhook deal underscores a broader trend in the healthcare sector, where private equity firms are increasingly acquiring publicly traded companies to consolidate market share and drive operational efficiencies. This consolidation can lead to improved economies of scale, enhanced access to capital, and accelerated adoption of innovative care models. However, it also raises questions about the long-term impact on patient care, workforce stability, and competition in the home health and hospice markets.
Industry analysts have noted that the transaction reflects a growing convergence between private equity and healthcare, particularly in sectors where long-term investment can drive meaningful improvements in patient outcomes. The deal also highlights the challenges faced by publicly traded healthcare companies in balancing shareholder returns with the complex demands of patient-centered care.
Who Benefits from This Deal?
- Enhabit Shareholders: Receive a premium cash offer, eliminating public market volatility and providing liquidity.
- Enhabit Employees: Potential for expanded investments in workforce development, benefits, and career growth opportunities.
- Patients and Families: Continued access to high-quality home health and hospice services with no immediate disruptions.
- Kinderhook Industries: Strengthens its healthcare portfolio with a leading provider of home health and hospice services.
- Healthcare Industry: May see increased consolidation and innovation in home-based care delivery models.
Next Steps and Official Updates
The acquisition is expected to close on Friday, May 16, 2026, pending the satisfaction of closing conditions. Following the completion of the transaction, Enhabit will provide official updates to stakeholders, including patients, employees, and partners. Shareholders can monitor progress through Kinderhook Industries’ official communications and Enhabit’s website.
For those interested in tracking the deal’s progress, the following resources are available:
- Enhabit’s Official Website – For updates on services, careers, and investor information.
- Kinderhook Industries’ Website – For details on the firm’s healthcare portfolio and investment strategy.
- SEC Filings – For official regulatory disclosures related to the transaction.
Key Takeaways
- Enhabit shareholders overwhelmingly approved the $1.1 billion acquisition by Kinderhook Industries, with 95% voting in favor.
- The deal represents a 24.4% premium over Enhabit’s February 20, 2026, closing stock price and a 33.8% premium over its 60-day average.
- Shareholders will receive $13.80 per share in cash, marking the end of Enhabit’s public trading status.
- The acquisition is expected to close on May 16, 2026, subject to closing conditions.
- Enhabit will retain its name and brand under Kinderhook’s ownership, with no immediate changes to patient care services.
- The deal reflects broader trends in healthcare consolidation and private equity investment in home health and hospice care.
As Enhabit prepares to transition to private ownership, the focus will shift to the long-term impact of this partnership on patient care, workforce development, and innovation in home health and hospice services. For now, the deal stands as a testament to the growing influence of private equity in shaping the future of healthcare delivery.
What are your thoughts on this acquisition? Will it improve access to home health and hospice services, or raise concerns about consolidation in the healthcare sector? Share your perspectives in the comments below.