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Option Care Health, the largest independent provider of home health services, announced a deal Wednesday to acquire home health and hospice firm Amedisys for $3.6 billion.
The all-stock transaction will create a mammoth provider of post-acute care services that also will include hospital-at-home and palliative care. The combined firm will generate approximately $6.2 billion in annual revenue.
“Our mission is to transform health care by providing innovative services that improve outcomes, reduce costs, and deliver hope and dignity for patients and their families,” John C. Rademacher, president and CEO of Bannockburn, Illinois-based Option Care Health, said in a news release. “With the addition of Amedisys, we will bolster our offerings to meet the growing demand for personalized care in the home and alternative sites that move us closer to achieving this goal.”
Under terms of the definitive agreement, shareholders of Baton Rouge, Louisiana-based Amedisys will receive 3.0213 shares of Option Care Health’s common stock for each share of Amedisys common stock they hold at the closing of the transaction, the equivalent of $97.38 per Amedisys share based on Option Care Health’s closing stock price on May 2. It represents a premium of about 26% to Amedisys stockholders based on the company’s May 2 closing price.
The deal includes the assumption of debt.
The companies said the transaction is expected to close in the year’s second half, subject to approval from regulators and shareholders of both companies.
This is a breaking news story. Check back for updates.
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