Gentiva adds to hospice services with $1B purchase of Odyssey
Gentiva Health Services has entered into a definitive merger agreement to acquire Odyssey HealthCare in an all-cash transaction for a price of $27 per share of Odyssey common stock, for an aggregate purchase price of approximately $1 billion.
The Atlanta-based hospice service provider Gentiva stated it anticipates combining Odyssey's and the Dallas-based Gentiva's existing hospice operations.
The transaction is expected to close in the third quarter of 2010 and is subject to standard closing conditions, including but not limited to regulatory approvals as well as approval by Odyssey's stockholders, according to Gentiva.
The Atlanta-based hospice service provider Gentiva stated it anticipates combining Odyssey's and the Dallas-based Gentiva's existing hospice operations.
The transaction is expected to close in the third quarter of 2010 and is subject to standard closing conditions, including but not limited to regulatory approvals as well as approval by Odyssey's stockholders, according to Gentiva.