Enhabit Names New CEO After $13.80/Share Kinderhook Take-Private Deal

Enhabit, Inc. has appointed Dale Clift as its new president and CEO, a strategic move that follows the home health and hospice provider’s acquisition by private equity firm Kinderhook Industries for $13.80 per share. The leadership transition marks a new chapter for Enhabit as it moves forward as a privately held company, delisted from the New York Stock Exchange.

"Dale is a proven leader with deep experience and a strong understanding of the home-based care landscape," said Chris Michalik, managing director at Kinderhook Industries. "His track record of building and scaling high-performing organizations speaks for itself, and we are confident he is the right leader to guide Enhabit forward."

The acquisition was completed with Kinderhook paying $13.80 for each Enhabit share. Clift, who succeeds Barb Jacobsmeyer, previously led Trilogy Home Healthcare as CEO and served as president and CEO of Nurse on Call. Enhabit operates a significant national footprint with 251 home health and 117 hospice locations across 35 states.

This leadership change under new private equity ownership is pivotal for Enhabit's strategy. The focus will now be on leveraging Kinderhook's resources to expand patient access and enhance clinical services in the growing home-based care market. Clift's experience in scaling similar organizations will be critical as Enhabit aims to solidify its position against competitors in the post-acute care space.

A New Era of Private Ownership

The appointment of Dale Clift is the capstone on a period of significant transition for Enhabit. The take-private deal, advised by Goldman Sachs for Enhabit and Guggenheim Securities for Kinderhook, reflects a broader trend of private equity investment in the resilient home healthcare sector. With the delisting of its common stock, Enhabit will now operate without the pressures of public market reporting, potentially allowing for more aggressive long-term growth initiatives.

Former CEO Barb Jacobsmeyer, who had previously announced her intention to step down, expressed confidence in the company's future. "With Kinderhook’s support and Dale’s leadership, Enhabit is well positioned to continue growing its impact and serving even more patients who need and deserve our extraordinary care," she stated.

Leadership with a Track Record

Clift brings a wealth of experience directly relevant to Enhabit's operations. At Trilogy Home Healthcare, he oversaw a period of rapid growth and operational expansion before its acquisition in 2023. His earlier career included scaling Nurse on Call across multiple markets, demonstrating a consistent ability to manage and expand home health organizations.

"It is an honor to serve as CEO of Enhabit at such an important time in the company's journey," Clift said. "I look forward to building on the company's strong foundation and continuing to support our teams across the country."

This article is for informational purposes only and does not constitute investment advice.