Amedisys, Inc. (AMED) announced a definitive agreement to acquire Compassionate Care Hospice, a national hospice care provider headquartered in Parsippany, New Jersey. Amedisys will acquire 100 percent of the ownership interests in CCH for a fixed price of $340 million, which is inclusive of $50 million in payments related to a tax asset and working capital.
Compassionate Care Hospice, a community-based organization, cares for approximately 3,300 patients daily and employs more than 2,300 hospice professionals in 53 locations across 24 states. CCH generated approximately $188 million in annual revenues, with an adjusted EBITDA of $27 million. Amedisys said, post-closing, the combined hospice operations will include 136 care centers in 34 states, with an ADC of approximately 11,000 patients and approximately 5,700 hospice employees.
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