UnitedHealth Group and Amedisys have found buyers for key divestitures aimed at getting their $3.3 billion merger over the finish line, according to new filings.
In documents submitted to the Securities and Exchange Commission (SEC), Amedisys said April 30 the companies entered an agreement to sell off certain Amedisys home health and hospice centers, as well as some of UnitedHealth’s care centers, to BrightSpring Health Services and the Pennant Group.
Completion of these sales is contingent on several factors, according to the filing, including the final closure of the UnitedHealth-Amedisys deal.
Financial terms were not disclosed in Amedisys’ filing, but the Pennant Group noted in a separate SEC document that it would pay about $102.5 million for the assets it’s buying from Amedisys and UnitedHealth.
UnitedHealth and Amedisys have been working to finally put a bow on the merger, which was first announced in mid-2023. The Biden administration later challenged the deal on antitrust grounds, arguing that it would allow UnitedHealth Group to take an outsized role in the home healthcare market.
The two companies later extended the timeline to close their deal to the end of this year, should they prevail in the legal battle.
UnitedHealth and Amedisys recently entered into mediation with the Department of Justice as part of the legal proceedings.
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