Option Care-Amedisys acquisition falls through Optum succeeds with its ‘superior proposal’
By HME News Staff
Updated 9:34 AM CDT, Mon June 26, 2023
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BANNOCKBURN, Ill. – Option Care Health announced today that it has terminated its $3.6 billion merger with Amedisys, just weeks after Optum made an unsolicited bid for the home health care provider.
Option Care Health says it will receive a $106 million termination fee.
"While we are disappointed in this outcome, Option Care Health has a long track record of delivering value for our shareholders," said John C. Rademacher, president and CEO. "We take a disciplined approach to acquisitions and, as we evaluated our options, we applied this discipline to ensure we continue to create value for all of our key stakeholders. We remain confident in our growth trajectory, which is underpinned by current industry trends and market forces as well as our strong financial position. Our team is committed to serving all our stakeholders by providing unsurpassed care and superior clinical outcomes in the home or ambulatory setting, and we will continue to identify ways to increase the value we can deliver."
Amedisys announced today that it has agreed to be acquired by Optum in an all-cash transaction for $101 per share.
Option Care Health and Amedisys announced plans to merge in May.
On May 27, however, Amedisys’ board of directors determined that an unsolicited bid from Optum could reasonably be expected to result in an “Amedisys Superior Proposal,” as defined in the company's merger agreement with Option Care Health. On May 30, Amedisys entered into a confidentiality agreement with Optum.
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