UnitedHealth Group
has reached an all-cash deal to acquire healthcare-service provider
Amedisys
for $101 a share.
The move was announced in a filing with the Securities and Exchange Commission on Monday. Each share of
Amedisys
(ticker: AMED) common stock will be converted into the right to receive $101 in cash. Following the closure of the acquisition, Amedisys will become a wholly owned subsidiary of
UnitedHealth
(UNH).
Amedisys earlier this month had received a proposal from Optum, a healthcare service provider owned by UnitedHealth, to buy all common shares in an all-cash transaction for $100 a share.
Back in May, Amedisys announced that it had entered into a merger agreement with
Option Care Health
(OPCH) to combine in an all-stock transaction that valued Amedisys at about $3.6 billion. The deal to be bought by UnitedHealth scraps that previous agreement.
“While we are disappointed in this outcome,
Option Care Health
has a long track record of delivering value for our shareholders,” Option Care Health’s chief executive, John Rademacher, said in a news release Monday. Option Care Health will now receive a $106 million termination fee.
Shares of Amedisys were down 0.6% Monday to $90.63, and UnitedHealth shares fell 0.4%. Option Care Health was rising 3.7%.
Write to Angela Palumbo at [email protected]
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