Health & Fitness
Fri, October 1, 2010Thu, September 30, 2010Wed, September 29, 2010Tue, September 28, 2010Mon, September 27, 2010Sun, September 26, 2010Sat, September 25, 2010Fri, September 24, 2010Thu, September 23, 2010Wed, September 22, 2010Tue, September 21, 2010Mon, September 20, 2010Fri, September 17, 2010Thu, September 16, 2010Wed, September 15, 2010Tue, September 14, 2010Mon, September 13, 2010Sun, September 12, 2010Fri, September 10, 2010Edge Healthcare Partners, LLC Advises Gentiva Health Services, Inc. in the Previously Announced Acquisition of Odyssey HealthCa
Published in Health and Fitness on Wednesday, September 22nd 2010 at 5:18 GMT by Market Wire
ATLANTA--([ BUSINESS WIRE ])--Edge Healthcare Partners, LLC is pleased to announce that Gentiva Health Services, Inc. (NASDAQ: GTIV) (aGentivaa) has completed its acquisition of Odyssey HealthCare, Inc. (NASDAQ: ODSY) (aOdysseya), a leading national provider of hospice care in the U.S., in an all cash transaction for a price of $27.00 per share and an aggregate purchase price of approximately $1.0 billion. The transaction closed on August 17, 2010. Edge Healthcare Partners served as the exclusive financial advisor to Gentiva Health Services and originated the transaction.
The combination of Gentiva and Odyssey creates the largest U.S. healthcare provider of home health and hospice services based on revenue. Annualized pro forma revenues for the twelve months ended July 4, 2010 exceeded $1.88 billion, of which approximately 59% related to home health services and approximately 41% related to hospice services. The combined hospice operations of Odyssey and Gentiva provide care to an average daily patient census of approximately 14,000 in 30 states.
Gentiva Health Services, Inc. ([ www.gentiva.com ]; NASDAQ: GTIV) is a leading provider of home health and hospice services, delivering innovative, high quality care to patients across the United States. Gentiva is a single source for skilled nursing; physical, occupational, speech and neurorehabilitation services; hospice services; social work; nutrition; disease management education; help with daily living activities and other therapies and services.
Founded in 1996 and based in Dallas, Texas, Odyssey is one of the largest providers of hospice care in the country in terms of both average daily patient census and number of locations. Odyssey seeks to improve the quality of life of terminally ill patients and their families by providing care directed at managing pain and other discomforting symptoms and by addressing the psychosocial and spiritual needs of patients and their families.
Edge Healthcare Partners, LLC is an independent Atlanta-based investment banking firm focused on providing merger and acquisition services to leading private and public healthcare companies and private equity firms. In addition to transactional advisory services, Edge Healthcare Partners also provides valuations, fairness opinions and other financial and strategic advisory services. The professionals of Edge Healthcare Partners have over 45 years of collective investment banking experience and have completed more than 100 transactions across the entire spectrum of healthcare including healthcare services, healthcare information technology, distribution and life sciences. Securities are offered through Edge Corporate Finance, Member FINRA, SIPC. For more information, visit our website, [ www.edgehealthcarepartners.com ].
