Option Care Health, Amedisys to merge

BANNOCKBURN, Ill. and BATON ROUGE, La., - Option Care Health, Inc., the nation's largest independent provider of home and alternate site infusion services, and Amedisys, Inc., a leading provider of home health, hospice and high-acuity care, have entered into an agreement to merge.

The all-stock transaction values Amedisys at approximately $3.6 billion, including the assumption of net debt.

Combining Amedisys' home health, hospice, palliative, and high-acuity care services with Option Care Health's complementary home and alternate site infusion services will create a leading, independent platform for home and alternate site care.

"This transaction unites two leading and complementary companies to provide unsurpassed care and superior clinical outcomes to patients," said John C. Rademacher, president and CEO of Option Care Health. "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. 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. We look forward to working closely with the Amedisys team to build on our strong track record of operational integration as we bring our companies together to create significant long-term value for stockholders."

Together, Option Care Health and Amedisys will have a national clinical workforce of more than 16,500 professionals including but not limited to nursing professionals, pharmacists, pharmacy technicians, dieticians, physical, occupational, and speech therapists, social workers, and aides and 674 care centers across the U.S. committed to delivering high-quality alternate site care. The combined company will have a scaled national platform empowered to move deeper into a value-based care model, serving communities across the country and helping to benefit patients and their families, providers, payers, and care teams. 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.

"This combination is a testament to the incredible work and quality outcomes Amedisys delivers on a daily basis for our patients wherever they call home," said Richard Ashworth, president and CEO of Amedisys. "Bringing together Option Care Health and Amedisys is an exciting next step on our journey and one that we believe will deliver significant value to stockholders, allowing them to participate in the upside of a combined company that is well positioned in the home infusion and growing home health, hospice, palliative, and high-acuity care spaces. We look forward to joining Option Care Health and working together to provide our patients with the highest quality care across all our service offerings."

The transaction is expected to close in the second half of 2023.