Gentiva buys private home health business to cut Medicare dependence

(Reuters) - Gentiva Health Services Inc (GTIV.O) will buy the home health, hospice and community care businesses of privately held Harden Healthcare Services for about $409 million to expand its patient base in the face of continued Medicare reimbursement cuts. Gentiva shares rose as much as 11 percent on the Nasdaq. The deal will help expand Gentiva's services to so-called dual-eligibles - people who qualify for both the elderly and disabled-focused Medicare insurance plan and for Medicaid, which covers the poor.