KKR Sells BrightSpring Shares: Secondary Offering Details
KKR is selling 14 million shares of BrightSpring stock in a secondary offering, impacting the home healthcare services market. The firm, already holding a ample 54.2% stake, plans the move despite BrightSpring’s recent Q1 revenue surge. Underwriters have an option for an additional 2.1 million shares. The secondary offering, coming less than a year after a deal involving Walgreens, underscores important shifts in the home health sector. BrightSpring, operating nationwide, provides essential services. News Directory 3 keeps you informed. The company’s acquisition strategy continues, although a plan involving Amedisys and UnitedHealth Group faces antitrust hurdles. Will KKR’s move reshape the market further? Discover what’s next …
KKR Plans Secondary Offering of BrightSpring Stock
Updated June 11,2025
KKR & Co. (NYSE: KKR), the majority shareholder of BrightSpring Health Services (nasdaq: BTSG), announced Tuesday it’s intention to sell 14 million shares of brightspring stock in a secondary offering.Underwriters will have the option to purchase up to 2.1 million additional shares.
According to public filings, KKR holds approximately 93 million BrightSpring shares, representing 54.2% of the company’s outstanding stock. The investment firm acquired a notable stake in BrightSpring in 2019 for $1.32 billion, along with an affiliate of Walgreens Boots Alliance.
BrightSpring, headquartered in Louisville, Kentucky, specializes in home- and community-based services for complex populations, operating across all 50 states. These services include home care, home health care, and home-based primary care. The company’s IPO occurred in January 2024.
The announcement follows BrightSpring’s Q1 earnings report, where it posted a 26% year-over-year increase in net revenue, reaching $2.9 billion. The provider services segment, encompassing home health and personal care, saw a 12% increase, generating $346 million.
This secondary offering comes less than a year after KKR’s agreement to acquire 11.6 million shares from Walgreens Boots Alliance.
BrightSpring’s acquisition strategy also includes a planned deal with Amedisys and UnitedHealth Group to acquire home health and hospice centers.Though, the U.S. Department of Justice (DOJ) reportedly rejected the initial divestiture plans due to antitrust concerns related to the broader UnitedHealth-Amedisys merger.
During BrightSpring’s Q1 earnings call, President and CEO Jon Rousseau commented on the company’s acquisition approach.
“We’ve been in a mode, for a couple of years, of largely doing tuck-ins that have been highly accretive at very attractive pro forma multiples,” Rousseau said.
What’s next
The secondary offering’s proceeds will go to KKR. The offering’s timing and final terms will depend on market conditions and other factors.