Baton Rouge-based Amedisys continues to expand its footprint nationally, announcing today that it is acquiring six health and hospice care centers in Arizona, Illinois and Massachusetts.
In a statement, Amedisys says it’s purchasing the centers from Dallas-based Tenet Healthcare, which operates general acute care hospitals, short-stay surgical hospitals and outpatient centers in the U.S. and the United Kingdom.
“This acquisition gives Amedisys an incredible opportunity to continue our goal of providing high-quality post-acute services in key markets,” says Amedisys President and CEO Paul Kusserow in a statement. “We look forward to the opportunity to work with Tenet in these markets to improve the delivery of care and management of patients across the care continuum.”
Since December 2015, Amedisys has announced six acquisitions, deploying approximately $125 million in capital and contributing approximately $145 million in revenue.
Also, Amedisys on Tuesday reported fourth-quarter net income of $8.9 million, The Associated Press reports.
The company says it had net income of 26 cents per share. Earnings, adjusted for non-recurring costs, were 44 cents per share. The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The home health care and hospice services provider posted revenue of $366.3 million in the period, which did not meet Wall Street forecasts. Six analysts surveyed by Zacks expected $371 million.
For the year, the company reported net income of $37.3 million, or $1.10 per share, swinging to a profit in the period. Revenue was reported as $1.44 billion.
Amedisys shares have risen 13% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $48.22, a climb of 31% in the last 12 months.
