(Reuters) -Humana Inc said on Thursday it would sell a 60% interest in its hospice business, Kindred at Home, for $2.8 billion to private investment firm Clayton, Dubilier & Rice.
The U.S. health insurer took full ownership of Kindred at Home last year after acquiring the remaining 60% stake it did not own from TPG Capital for $5.7 billion to expand its patient care business.
Humana said it intends to use proceeds from the transaction for repayment of debt and share buybacks.
The company does not anticipate a material impact to 2022 earnings from this transaction, which is expected to close in the third quarter of 2022.
(Reporting by Mrinalika Roy in Bengaluru;Editing by Vinay Dwivedi)
