“The board currently believes that shareholder value will be maximized through a third-party transaction.” “The strategic review initiated by the board remains ongoing, and we continue to advance a number of options to deliver shareholder value,” Interim CEO Nils Andén said in a statement. Kindred said it hopes to exit from five US states and Ontario by the end of Q2 2024, with the exits subject to regulatory approval. The company cited a “highly competitive market” in North America and said it wants to reallocate resources to core markets “where we see more attractive return on investment prospects.”
The company said EBITDA was negatively impacted in Q2 2023 and Q3 2023 as well - with negative marks of £5.1 million and £6.5 million, respectively.Īn interim strategic review update included in Kindred’s Q3 presentation on Wednesday outlines a “controlled exit from North America.” Unfortunately for Kindred, the bad news from North America has continued since then.
