Option Care Health acquires Amedisys for $3.6B in all-stock transaction

Option Care Health (OPCH) and Amedisys (AMED) announced that they have entered into a definitive merger agreement to combine in an all-stock transaction that values Amedisys at approximately $3.6B, including the assumption of net debt. Under the terms of the agreement, Amedisys stockholders will receive 3.0213 shares of Option Care Health common stock for each share of Amedisys common stock they hold at the closing of the transaction, the equivalent of $97.38 per Amedisys share based on Option Care Health’s closing stock price on May 2. This represents an approximate 26% premium to Amedisys stockholders based on the closing stock price of Amedisys on May 2. Upon closing Option Care Health stockholders will own approximately 64.5% of the combined company, and Amedisys stockholders will own approximately 35.5%. John Rademacher and Mike Shapiro will continue to lead the combined company in their roles as CEO and CFO, respectively. The transaction is expected to close in the second half of 2023, subject to approval by Option Care Health and Amedisys stockholders and other customary closing conditions. The transaction was approved by the boards of both companies.