Hospice News June 30, 2021
Amedisys, Inc. (NASDAQ: AMED) has agreed to purchase Contessa Health, a Tennessee-based company that provides hospital-at-home and skilled nursing-at-home services, for a total consideration of $250 million, according to a Securities and Exchange Commission filing.
The transaction, expected to close Aug. 11, will bring higher acuity home-based care under Amedisys’ wings. The company will be among the first in the home-based care space to offer hospital or skilled nursing at home on a national scale. The multiple in the deal was 3.9 times EBITDA, compared to 6x for similar companies.
“Today’s announcement is a strategic and promised milestone for Amedisys’ strategic growth and differentiation, as we expand our capabilities to reflect growing market demands and evolving patient preference for higher-acuity in-home...