UnitedHealth Group's Optum plans to merge with home and hospice care provider Amedisys in an all-cash deal valued at $101 per share, pending shareholder and regulatory approvals.
Optum had previously offered to purchase all outstanding shares of Amedisys' common stock for $100 per share, which was valued at nearly $3.3 billion. The new deal announced June 26 terminates a previous $3.6 billion merger agreement between Amedisys and infusion services provider Option Care Health, which will receive a $106 million termination fee.
"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," Patrick Conway, MD, CEO of Optum Care Solutions, said June 5.
Baton Rouge, La.-based Amedisys was founded in 1982 and provides home health, hospice and high-acuity care services. The company employs 18,000 people across 522 care centers in 37 states and the District of Columbia.
UnitedHealth Group is rapidly growing its home care capabilities. In February, the company closed on its $5.4 billion acquisition of home health firm LHC Group.
Wyatt Decker, CEO of Optum Health, told investors in January that home health offers a large opportunity to provide value-based care to members moving forward because of its convenience and ability to provide better access.
"You will see us both developing, if you will, the platform of home care increasingly in a comprehensive fashion, as well as integrating home care with our clinic-based care model," he said. "And our ability to embed behavioral healthcare services within our primary care and value-based care offerings has been differentiated and will continue to grow, as well as our utilization of virtual behavioral care solutions in both the home and clinic environments."