Amedisys to acquire Beacon Hospice
Amedisys, a Louisiana-based home health and hospice company, has signed a definitive agreement to acquire Beacon Hospice.
Headquartered in Boston, Beacon Hospice consists of 23 free-standing locations and one inpatient unit and serves Massachusetts, Maine, New Hampshire, Rhode Island and Connecticut. Total annualized revenue for Beacon in 2010 was approximately $80 million.
The proposed transaction is subject to customary closing conditions, including regulatory approvals, and is expected to add $.05 to $.07 to Amedisys’ earnings in 2011 excluding one-time transaction related costs. The parties have agreed to a purchase price of approximately $125 million, subject to customary adjustments.
“This acquisition aligns with our strategy of providing a continuum of at-home healthcare, of which hospice continues to be a significant area of focus both clinically and in terms of growth,” said William F. Borne, chief executive officer of Amedisys.
“With an average daily census of approximately 1,300 patients, the addition of Beacon will increase the number of hospice patients under our care by nearly 40 percent. This will also allow us to significantly expand our hospice footprint in the New England market, adding to our existing presence in New Hampshire,” said James T. Robinson, executive vice president of Amedisys Hospice Care.
“We believe the combination of our two outstanding hospice organizations will benefit our patients, employees and investors,” Robinson added. “Together, we are building a premier hospice organization poised to care for the needs of the communities we serve."
