Amedisys enters agreement to acquire Beacon Hospice

Amedisys, Inc. (NASDAQ: AMED), one of America's leading home health and hospice companies, today announced it has signed a definitive agreement to acquire Beacon Hospice, Inc.

“Beacon Hospice has a strong reputation of providing high-quality, innovative, compassionate care”

Beacon Hospice is headquartered in Boston, Mass., and is regarded as one of the premier hospice companies in the New England region. Founded in 1993, Beacon has grown to include 23 free-standing locations and one inpatient unit, serving the states of Massachusetts (11), Maine (5), New Hampshire (5), Rhode Island (2) and Connecticut (1). Total annualized revenue for Beacon in 2010 was approximately $80 million. This transaction remains subject to customary closing conditions, including regulatory approvals, and is expected to add $0.05 to $0.07 to Amedisys' earnings in 2011 excluding one-time transaction related costs. The parties have agreed in the definitive agreement 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 health care, 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, Inc. "Adding Beacon Hospice to the Amedisys Hospice Care portfolio will be a great complement to our home health business, with many of Beacon's hospice locations matching the market presence of our existing home health care centers."

James T. Robinson, Executive Vice President of Amedisys Hospice Care added, "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.

"Beacon Hospice has a strong reputation of providing high-quality, innovative, compassionate care," Robinson said. "We believe the combination of our two outstanding hospice organizations will benefit our patients, employees, and investors. Together, we are building a premier hospice organization poised to care for the needs of the communities we serve."