ATLANTA, May 15, 2014 /PRNewswire/ -- Gentiva Health Services, Inc. ("Gentiva" or the "Company") (Nasdaq: GTIV) today confirmed that after careful consideration, its Board of Directors, with the assistance of its legal and financial advisors, has rejected an unsolicited, non-binding acquisition proposal from Kindred Healthcare, Inc. ("Kindred"). The Board concluded that the Kindred proposal significantly undervalues Gentiva and its attractive prospects for growth and value creation.
Gentiva's Board of Directors has thoroughly evaluated the successive, non-binding proposals made to its Executive Chairman and Chief Executive Officer, dated April 14 and May 5, 2014.
Rod Windley, Executive Chairman of Gentiva, said: "Our Board and our highly capable management team are confident that we can create significantly greater value for our shareholders by continuing to execute our One Gentiva initiative, along with the balance of our strategic plan. Our focus is on Gentiva shareholders, who would be denied the value they deserve and can expect to receive as we capitalize on our strong positioning in Home Healthcare, Hospice and Community Care."
Gentiva has retained Greenberg Traurig, LLP as its legal advisor and Barclays Capital and Edge Healthcare Partners LLC as its financial advisors.About Gentiva Health Services, Inc. Gentiva Health Services, Inc. is one of the nation's largest providers of home health, hospice and community care services, delivering innovative, high quality care to patients across the United States. Gentiva is a single source for skilled nursing; physical, occupational, speech and neurorehabilitation services; hospice services; social work; nutrition; disease management education; help with daily living activities; and other therapies and services. GTIV-G Contacts: Media:Kekst and Company Lissa Perlman (212) 521-4830 Tom Davies (212) 521-4873 Financial and Investor Contact: Eric Slusser770-951-6101 firstname.lastname@example.org or John Mongelli770-951-6496 email@example.com SOURCE Gentiva Health Services, Inc.
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