Workweek June 5, 2023
OPTUM CREATES A HOME HEALTH BIDDING WAR
UnitedHealth Group is once again coming for a major home health player. After Option Health Care in early May announced its intention to merge with Amedisys in a deal valued around $10 billion (Amedisys comprising around $3.6B of the combined enterprise at the time), Optum announced an offer to acquire Amedisys outright in an all-cash deal at $100 / share.
Blake’s Take: The Optum announcement could present an opportunity for both Amedisys and Option Care shareholders to back out of the original offer. For one, analysts were highly skeptical of the original combination here, with lack of payor overlap or other immediate synergies.
There was so much skepticism, in fact, that Option Health...
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