Optum, a diversified health services company, has submitted an all-cash proposal to the Board of Directors of Amedisys (NASDAQ: AMED), a leading provider of home health, hospice and high-acuity care, to combine with Amedisys.
Patrick Conway, M.D., chief executive officer of Optum Care Solutions, said, “Amedisys’ commitment to quality and care innovation within the home, and the patient-first culture of its people, combined with Optum’s deep value-based care expertise can drive meaningful improvement in the health outcomes and experiences of more patients at lower costs, leading to continued growth.”
In-home care is provided by thousands of organizations nationwide, with no single participant having more than a single-digit percentage share, a core reason Optum is confident it can secure approval for the combination. Even with the numerous providers, demand for in-home care far exceeds available supply, creating the need for substantial investment in the sector to more fully serve patients and their families with compassionate, high quality care in the comfort of their own homes.
The $100 per share all-cash transaction provides full and certain value to Amedisys shareholders. The proposed transaction represents a 26% premium over Amedisys’ most recent closing share price and a premium of 29% to the unaffected Amedisys share price of $77.26. Optum’s proposal has no financing contingency or condition and does not require shareholder approval.
Optum is a leading information and technology-enabled health services business dedicated to helping make the health system work better for everyone. With more than 220,000 people worldwide, Optum delivers intelligent, integrated solutions that help to modernize the health system and improve overall population health. Optum is part of UnitedHealth Group (NYSE: UNH). For more information, visit www.Optum.com.