CHICAGO, ILLINOIS (April 2008) - On March 26, 2008, Amedisys, Inc. (NASDAQ:AMED), one of America’s leading home nursing companies, closed the acquisition of TLC Health Care Services, Inc. for $395.0 million in cash.
TLC Health Care Services, Inc. is a provider of home nursing and hospice services with 92 home health and 11 hospice agencies located in 22 states and the District of Columbia. Founded in 1978, TLC’s licensed healthcare professionals provide a wide range of skilled nursing services including disease management, cardiac care, behavioral healthcare, and patient and family healthcare counseling. In addition, the company offers home health aide services to assist with activities of daily living. Headquartered in Lake Success, NY, TLC generated approximately $300.0 million in net revenue during the annualized nine-month period ended December 31, 2007.
Navigant Capital Advisors, LLC (“NCA”) was originally engaged as TLC’s exclusive financial advisor to provide capital and operating restructuring. Subsequently, NCA was retained to provide sell-side advisory services and NCA successfully structured, negotiated and closed this transaction. In marketing TLC, NCA highlighted TLC's footprint, quality of care, favorable Medicare concentration, organic growth rate, and markedly improved EBITDA.