Tags: US | Gentiva | Health | Odyssey | Acquisition

Gentiva Health to Buy Odyssey for About $1 Billion

Monday, 24 May 2010 09:20 AM

Home health services provider Gentiva Health Services plans to spend nearly $1 billion in cash to buy hospice care company Odyssey HealthCare.

Atlanta-based Gentiva says it will pay $27 per share for Odyssey stock in a move to create the largest U.S. provider of home health and hospice services. Based on Odyssey's 33.8 million shares outstanding at March 31, the deal is valued at $912.3 million.

The boards of both companies have approved the acquisition, which is expected to close in the third quarter, pending approval by regulators and Odyssey stockholders.

Gentiva expects to raise about $1.1 billion in new debt financing to fund the purchase and refinance existing debt.

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Home health services provider Gentiva Health Services plans to spend nearly $1 billion in cash to buy hospice care company Odyssey HealthCare.Atlanta-based Gentiva says it will pay $27 per share for Odyssey stock in a move to create the largest U.S. provider of home health...
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2010-20-24
Monday, 24 May 2010 09:20 AM
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