BATON ROUGE, La., Feb. 2 10, 2022 (GLOBE NEWSWIRE) — Amedisys, Inc., (NASDAQ: AMED), a leading provider of quality home health care, palliative care, personal care and critical care, today announced that it has signed a definitive agreement to acquire Evolution Health, LLC, a division of Envision Healthcare, doing business as Guardian Healthcare, Gem City and Care Connection of Cincinnati. Based in Dallas, Texas, the company cares for more than 3,300 home patients daily and employs more than 650 employees at 15 locations across Texas, Oklahoma and Ohio.
Under the terms of the transaction, which is expected to close in the first half of 2022, Amedisys will acquire 100% of the stakes in Evolution Health. When complete, this will increase access to Amedisys home health to over 1.9 million Medicare enrollees and over 690,000 Medicare Advantage enrollees in Texas, and over 800,000 Medicare and over 350,000 Medicare Advantage enrollees in Ohio. Post-closing, Amedisys will provide both home health and palliative care services to six communities in Texas, including Dallas/Fort Worth, San Antonio and Houston, furthering our strategy to become the solution for those who wish to age at their home.
“By continuing the excellent care provided by Evolution Health, Amedisys will provide additional scale and resources that will expand our care opportunities for more patients and in more communities across Texas, Oklahoma and Ohio,” said Chris Gerard, President and COO of Amedisys. “Amedisys is proud to expand its presence in these healthcare communities and provide more comprehensive care by aligning with our Amedisys Hospice footprint in Texas.”
“The purchase of Evolution Health is part of our strategy to acquire and integrate high-quality regional home health assets into our home health division, which leads the industry in terms of quality,” said Paul Kusserow, Chairman and CEO of Amedisys.
The transaction adds greater scale to Amedisys’ high-quality nationwide network of 331 home healthcare centers. After closing, the combined home care operations will include 346 care centers in 34 states and the District of Columbia, with an average daily count of approximately 73,499 patients and approximately 11,236 home care employees.
“Evolution Health and Amedisys share a commitment to providing quality care to our patients in the comfort of their homes,” said Evolution Health President Mike Parsons. “We look forward to growing with Amedisys and continuing to provide our employees with exceptional resources and support to care for their patients, as well as access to expanded service offerings.”
In 2021, Modern Healthcare named Amedisys, Inc. to its prestigious list of Best Workplaces in Healthcare. Amedisys is the second largest home health care provider and third largest hospice provider in the United States with 528 locations in 38 states and the District of Columbia. As of the publication of Home Health Compare in January 2022, Amedisys’ Star Quality of Patient Care (QPC) score is 4.33. The Society also provides personal care, palliative care and high acuity care.
About Evolution Health
Evolution Health is a home care company headquartered in Dallas, TX serving three states through its family of trusted local brands. Working in partnership with the patient’s physician, Evolution Health offers traditional home health services reimbursed by Medicare, Medicaid and commercial payers, including skilled nursing, occupational therapy, physical and speech therapy, counseling and emotional support. Evolution Health’s top priority is to provide quality, compassionate care to its patients, their families, and the communities in which they serve. For more information, visit https://www.evolution.net/.
Amedisys, Inc. is a leading home health care company, providing personalized home care, palliative care, personal care and critical care services. Amedisys is focused on delivering the care that is best for our patients, whether it is personal care at home; recovery and rehabilitation after surgery or injury; care focused on empowering them to manage chronic disease; or palliative care at the end of life. More than 3,000 hospitals and 90,000 physicians nationwide have chosen Amedisys as their post-acute care partner. Founded in 1982, headquartered in Baton Rouge, LA with an executive office in Nashville, TN, Amedisys is a public company. With approximately 20,000 employees, across 528 care centers in 38 states and the District of Columbia, Amedisys is committed to delivering the highest quality care at the doorsteps of more than 445,000 patients in need each year, performing more 11.5 million visits per year. For more information about the Company, please visit: www.amedisys.com.
When included in this press release, words such as “believes”, “believes”, “expects”, “strategy”, “plans”, “anticipates”, “intends”, “projects”, “believes”, “may”, “could”, “could”, “would”, “should” and similar expressions are intended to identify forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 These forward-looking statements involve a variety of risks and uncertainties that could cause actual results to differ materially from those described in them. These risks and uncertainties include, but are not limited to the following: the impact the novel coronavirus (“COVID-19”) pandemic, including measures that have been and may be taken by governmental authorities to mitigate it, on our business, financial condition and results of operations, the impact current and proposed federal, state and local mandates with respect to of vaccines, including potential staff shortages, changes in or our non-compliance with existing federal and state laws or regulations or the inability to comply with new government regulations in a timely manner, changes in Medicare and other levels payment plans, our ability to open care centers, acquire additional care centers and effectively integrate and operate those care centers, competition in the healthcare industry, changes in patient mix and methods payment, changes in estimates and judgments associated with critical accounting policies, our ability to maintain or establish new patient referrals, our ability to consistently provide high quality care, our ability to attract and retain staff qualified, our ability to ensure the safety of our patients and employees, changes in pay ments and services covered by federal and state governments, future cost containment initiatives undertaken by third-party payers, our access to financing, our ability to meet debt service requirements and meet covenants in debt debt, business interruptions due to natural disasters or acts of terrorism, widespread protests or civil unrest, our ability to integrate, manage and maintain the security of our information systems, our ability to realize profits anticipated acquisitions, legislative changes or developments regarding any litigation relating to the Company, including various other matters, many of which are beyond our control.
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