Amedisys and Optum, the health care services arm of UnitedHealth Group, today announced a merger agreement. A deal was reported to be in the works earlier this month.
Under terms of the deal, Optum will acquire the home health and hospice giant Amedisys in an all-cash transaction for $101 per share, or about $3.3 billion. Optum previously offered $100 per share. Amedisys stock popped more than 13% on the earlier news, hitting $90 a share.
“The combination of Amedisys with Optum unites two organizations dedicated to providing compassionate, value-based comprehensive care to patients and their families,” Amedisys said in a statement.
Amedisys currently has a market cap just shy of $3 billion.
Optum’s offer outbid rival Optioncare Health, which had offerd $97.38 a share. Option Care said it was “disappointed” with the cancellation of the deal and is due to receive $106 million from Amedisys as per its May agreement. Read more.
