Amedisys, which has entered into a merger agreement with Option Care Health, disclosed Monday it received an unsolicited proposal from Optum to acquire all of the outstanding shares of Amedisys’ common stock in an all-cash transaction for $100 per share.
The board determined that the unsolicited proposal received from Optum could reasonably be expected to result in an “Amedisys Superior Proposal” as defined in Amedisys’ merger agreement with Option Care Health. Amedisys now is engaged in “exploratory discussions with Optum,” the company said in a statement.
Early last month, Amedisys, a major home health and hospice company, and Option Care Health, a home and alternate site infusion services provider, disclosed they entered into a definitive merger agreement to combine in an all-stock transaction that values Amedisys at approximately $3.6 billion.
The transaction prompted speculation about Amedisys’ strategy behind the deal. One home care mergers and acquisitions expert predicted a takeover by a large health insurance company.
Optum, a division of UnitedHealth Group, this year acquired home health, personal care and hospice firm LHC Group for $5.4 billion.
“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, chief executive officer of Optum Care Solutions, said in a statement Monday.
This is a developing story. Please check back for updates.
