Amedisys Inc. (Nasdaq: AMED) experienced growth in home health during the fourth quarter of 2024, despite incurring merger-related costs from its pending acquisition by UnitedHealth Group (NYSE: UNH).
The company’s home health business reported net service revenues of $377 million for the fourth quarter of 2024, an increase from $358.9 million in the same quarter of the previous year. For the entire year of 2024, net service revenue totaled $1.49 billion, up from $1.4 billion in 2023.
In the fourth quarter, company-wide net revenue rose by $27.3 million to reach $598 million, compared to $570 million in 2023. The company did not hold an earnings call, given the company’s pending acquisition.
The prospects for that deal are uncertain, as the U.S. Justice Department (DOJ) is suing Amedisys and UnitedHealth Group to block the transaction due to antitrust concerns.
In June 2023, the UnitedHealth Group subsidiary Optum agreed to acquire Amedisys for $101 per share in an all-cash transaction valued at approximately $3.3 billion. Last summer, the DOJ began investigating potential antitrust issues related to the deal.
The DOJ conducted a similar investigation and filed a lawsuit when Optum acquired the health care technology company Change Healthcare. A federal court ultimately allowed that deal to go through.
The rationale behind the Department of Justice’s lawsuit against Optum and Amedisys is complex, focusing on possible negative effects on competition, home-based care workers and payers.
Amedisys delivers home health, hospice, and palliative care services to more than 465,000 patients each year across 38 states and Washington D.C.
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