Amedisys Scoops Up Beacon Hospice for $125M
Home-health-care giant Amedisys (NASDAQ:AMED) has inked a deal to buy Boston’s Beacon Hospice for $125 million in a deal that's expected to boost the amount of hospice patients under its care by about 40%.
Founded in 1993, Beacon, which has 23 free-standing locations and one inpatient unit, has been regarded as one of the premier hospice companies in New England. The company booked annual revenues last year of $80 million and saw average daily patients of 1,300.
Amedisys said it expects the deal to add 5 cents to 7 cents to its 2011 earnings, excluding one-time transaction costs.
“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,” Amedisys CEO William Borne said in a statement, noting Beacon will compliment its home health business, with many of its hospice location matching the market presence of its existing home health care centers.
The deal is subject to customary closing conditions and regulatory approvals.