Kindred issued a number of higher bids over the course of the summer. Under the terms of the agreement, Gentiva shareholders will receive $14.50 per share in cash and $5 of Kindred common stock. The transaction assumes all net debt. The deal is expected to close in the first quarter of 2015. Kindred CEO Paul Diaz said during a Thursday morning conference call that the deal solidifies the combined company as the fourth-largest healthcare employer in the country and enhances its position as a post-acute provider. With the Gentiva acquisition, the combined companies will have over 700 home health, hospice and community care sites in 41 states. It is expected to have annual revenues of $7.1 billion. The deal will be financed through a bridge loan from Citigroup Inc. and JPMorgan Chase & Co., as well as the issuance of $200 million to $300 million in common stock and mandatory convertible equity securities and $1.3 billion to $1.4 billion of unsecured notes prior to the closing of the acquisition.