Home care provider Amedisys Inc. (Nasdaq: AMED) is buying private equity-backed Infinity HomeCare for $63 million, in a merger that could kick off a string of further purchases.
The acquisition "expands the Amedisys footprint in our key Florida market, aligns with the growth strategy of both our organizations and sends a strong signal to our stakeholders that we plan to resume growth by acquiring high quality assets in key markets," says Amedisys CEO Paul Kusserow.
Sarasota, Florida-based Infinity provides home-based health care to more than 14,000 customers through nurses, therapists, medical social workers and home health aides. The business is backed by private equity firm HealthEdge Investment Partners LLC.
The Tampa, Florida-based investor focuses only on health care companies, and is also behind medical manufacturer Formulated Solutions and Advanced Bio-Technologies Inc.
Dealmakers are attracted to the home health sector because of its low cost structure. Other recent home-health deals include Schryver Medical Sales and Marketing LLC's acquisition of On-Site Imaging Solutions, and Almost Family Inc.'s (Nasdaq: AFAM) purchase of WillCare HealthCare. For more, see Health Care Comes Home.