Enhabit, Inc. (NYSE: EHAB) shares popped Monday. The company, a leading national home health and hospice provider, today announced it has entered into a definitive agreement to be acquired by Kinderhook Industries, LLC, a middle market private equity firm, in an all-cash transaction for a total enterprise value of approximately $1.1 billion.
Under the terms of the agreement, Enhabit stockholders will receive $13.80 per share in cash, which represents a premium of approximately 24.4% to the Company’s closing stock price on February 20, 2026, the last full trading day prior to the announcement of the transaction, and a 33.8% premium to the Company’s 60-day volume-weighted average share price for the period ended February 20, 2026.
Upon completion of the transaction, the Company's common stock will no longer be listed on the New York Stock Exchange, and Enhabit will become a private company. Enhabit will continue operating under the Enhabit name and brand following the close of the transaction.
Chairman Jeffrey W. Bolton said, “Following a thorough evaluation and extensive deliberations in consultation with our independent advisors, we are pleased to reach this agreement with Kinderhook. The Board evaluated the current state of the business, its outlook and opportunities, and is confident this transaction maximizes value for our stockholders and is in their best interest.”
EHAB shares jumped $2.47, or 22.7%, to $13.55.
