Option Care Health, Inc. and Amedisys, Inc. announced that they have entered into a definitive merger agreement to combine in an all-stock transaction that values Amedisys at approximately $3.6 billion, including the assumption of net debt.
Upon closing, Option Care Health stockholders will own 64.5% of the combined company, and Amedisys stockholders will own 35.5%. Together, Option Care Health and Amedisys will have a national clinical workforce of more than 16,500 professionals and 674 care centers across the United States. Based on recently reported 2022 financial results, the combined company generated revenues of approximately $6.2 billion and adjusted EBITDA of approximately $622 million on a combined basis.
Goldman Sachs is serving as exclusive financial advisor to Option Care Health and Kirkland & Ellis LLP and McDermott Will & Emery LLP are serving as legal counsel. Guggenheim Securities, LLC is serving as exclusive financial advisor to Amedisys and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel.
Formerly Analytical Nursing Management Corporation, Amedisys offers home health care, provisional medical staffing and primary care in rural areas and outpatient surgery services. It operates in Louisiana, Texas, Tennessee, Missouri, Kansas, Mississippi, North Carolina and Minnesota. Amedisys’ annual revenue for 2022 is $2.1 billion.
Option Care Health, Inc. is one of the largest independent home and alternate site infusion services providers in the United States. It has more than 7,000 employees including 4,700 clinicians.
According to data captured in the LevinPro HC database, this acquisition represents the 32nd Home Health & Hospice (HH&H) transaction of 2023. This is a 29% decrease from last year, when 45 HH&H deals were announced between January 1, 2022, and May 4, 2022, and a 26% decrease from the same 2021 period when 43 HH&H deals were announced.
