Lowenstein Sandler is representing Compassionate Care Hospice (CCH) in its $340 million sale to Amedisys, Inc. CCH is a community-based organization providing hospice care nationwide. Amedisys is a leading home health, hospice, and personal care company.
The definitive agreement, entered into on October 9, 2018, calls for Amedisys to acquire 100 percent of CCH’s ownership interests. The $340 million sale price includes $50 million in payments associated with working capital and a tax asset. The transaction is expected to close by February 1, 2019.
Founded in 1993, CCH tends to over 3,000 patients each day and employs more than 2,300 hospice professionals in 53 locations across 24 states. Amedisys cares for more than 7,500 hospice patients in 83 hospice care centers across 22 states. The acquisition will make Amedisys the nation’s third-largest hospice provider, with 136 care centers in 34 states, over 10,000 patients, and approximately 5,700 hospice employees.
Joining forces with Amedisys will enable CCH to set ever-higher standards for hospice service delivery by enhancing the company’s ability to offer critical, compassionate care to patients and families. The transaction provides Amedisys with an opportunity to deliver services and clinical excellence to more people and in more locations across the country.
The Lowenstein team was led by Marita A. Makinen and included Annie Nazarian Davydov, James C. Shehan, Michael Walutes, Michael N. Gooen, Darren Goodman, Sophia Mokotoff, Jack Sidorov, and Scott Siegel.