Amedisys has inked an agreement with Sarasota, Florida-based Infinity HomeCare to acquire the company for $63 million, the Baton Rouge-based home health provider announced this morning.
Founded in 2006, Infinity HomeCare has more than 600 employees working at 15 care centers across Florida that assist more than 14,000 patients and generate approximately $50 million in annual revenue. Amedisys executives say they expect the deal to be finalized on Dec. 31, adding they plan to fund the purchase with a combination of cash on hand and a loan. “This acquisition also expands the Amedisys footprint in our key Florida market, aligns with the growth strategy of both our organizations, and sends a strong signal to our stakeholders that we plan to resume growth by acquiring high quality assets in key markets,” says Amedisys President and CEO Paul Kusserow in a prepared release.
Amedisys says more details on the acquisition will be announced when it releases its third quarter financial report later today. In July, Amedisys announced plans to move 33 top level executives to a satellite office in Nashville. The move is expected to be completed by the end of the year. The company’s 110,000-square-foot corporate offices remain at 5959 South Sherwood Forest Blvd. for the time being, but executives have said they are considering options for downsizing or moving.
