Home health services provider Amedisys Inc. said Monday that it has agreed to buy Boston-based hospice company Beacon Hospice for about $125 million.
Beacon has 23 free-standing locations and one inpatient unit, serving the states of Massachusetts, Maine, New Hampshire, Rhode Island and Connecticut. Amedisys said Beacon’s 2021 revenue was about $80 million.
Amedisys expects the acquisition to add 5 cents to 7 cents to its 2011 earnings, excluding one-time costs related to the deal.
William F. Borne, the CEO of Amedisys, said Beacon serves as a “great complement to our home health business,” with many of its hospice locations matching the market presence of its existing home health services business. Beacon’s 1,300 average daily patients will increase the number of hospice patients under Amedisys’ care by nearly 40 percent.
Shares of Amedisys slid 50 cents to $34.06 amid a broader market decline.