Amedisys shareholders have voted in favor of the approximately $3.3 billion acquisition by Optum, a UnitedHealth Group subsidiary. The approval includes the merger agreement adoption and executive officer compensation. However, the deal is still under review by the Department of Justice (DOJ). Amedisys filed merger notifications with the FTC and DOJ in July, with the DOJ requesting additional information. While shareholders are on board, finalization depends on approvals from state regulatory and government authorities. UnitedHealth Group’s acquisition of Amedisys is part of its strategic expansion in the home healthcare sector, following its acquisition of LHC Group earlier in the year.
Shareholders of healthcare-at-home specialist Amedisys voted in favor of the roughly $3.3 billion pending acquisition by Optum, a subsidiary of UnitedHealth Group, according to a Securities and Exchange Commission filing.
The shareholders approved the adoption of the merger agreement, as well as compensation to the company’s executive officers in connection with the merger.
Still, the deal continues to be under review by the Department of Justice.
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Amedisys filed notifications of the merger with the Federal Trade Commission and Antitrust Division of the Department of Justice in July, and in an SEC filing last month said it received a request for additional information from the DOJ, extending the HSR Act waiting period until the parties have fulfilled the DOJ’s demands.
Though shareholders have approved the deal, its finalization is subject to approval from certain state regulatory and government authorities.
THE LARGER TREND
In June, UnitedHealth Group announced its plans to purchase the Louisiana-based home healthcare provider in an all-cash deal, beating out Option Care Health.
According to a May SEC filing, Option Care Health entered into an Agreement and Plan of Merger with the home health company in an all-stock offer, but just one month later entered into a termination agreement that included a termination fee of $106 million payable within 24 hours of the execution of the agreement.
In February, United Healthcare finalized its acquisition of another home health company, LHC Group, in a $5.4 billion deal, further expanding its reach in the home healthcare market.
Source: MobihealthNews
