Enhabit Climbs 48% YTD on Kinderhook’s $1.10B Acquisition at $13.80
Kinderhook’s agreed $1.10 billion acquisition of Enhabit at $13.80 per share, due to close in Q2 2026, sets a floor for the stock. Q4 2025 hospice revenue rose 10% to $63.6 million and full-year operating cash flow grew 38% to $70.7 million, while home health admissions climbed 7.3% and leverage fell to 3.9x.
1. Acquisition Deal Terms
Kinderhook Industries has agreed to acquire Enhabit in a deal valued at approximately $1.10 billion, purchasing shares at $13.80 each. The transaction is expected to close in the second quarter of 2026 and provides a clear valuation floor for the company.
2. Stock Performance
Enhabit’s shares have surged 48.16% year-to-date and 60.14% over the past year, driven largely by the pending acquisition. Analyst consensus target price aligns with the $13.80 acquisition price, underscoring limited downside and potential for modest upside if strategic synergies emerge post-close.
3. Operational Metrics
In Q4 2025, hospice revenue increased 10% to $63.6 million and full-year operating cash flow rose 38% to $70.7 million. Home health admissions grew 7.3%, cost per patient day declined 3.5%, and leverage ratio improved to 3.9x from 5.4x, reflecting stronger unit economics and balance sheet improvement.