Enhabit, Inc. has signed a definitive agreement to be acquired by Kinderhook Industries in an all-cash transaction valued at approximately $1.1 billion. Under the terms, each Enhabit stockholder will receive $13.80 per share in cash.

The offered price represents a 24.4% premium to Enhabit’s closing price on February 20, 2026 and a 33.8% premium to its 60-day volume-weighted average share price. Upon closing, Enhabit’s common stock will cease trading on the New York Stock Exchange and the company will become privately held.

The acquisition, unanimously approved by Enhabit’s Board, is expected to close in the second quarter of 2026, subject to stockholder and regulatory approvals. Kinderhook has secured committed debt and equity financing, and Enhabit will continue operating under its existing name and brand following the completion of the transaction.