Amedisys, a home nursing company, has completed the acquisition of TLC Health Care Services, a provider of home nursing and hospice services.
The $395 million deal, which closed Wednesday, gives Amedisys control of 92 home health and 11 hospice agencies in 22 states and Washington, D.C.
According to reports, Amedisys financed the TLC acquisition with $500 million in new senior, unsecured credit facilities comprised of a five-year, $250 million revolving credit facility, a five-year, $150 million term loan and $100 million in privately-placed senior notes, which mature in years 2013-15.
Company officials said the new $500 million in credit facilities replace the company's three-year, $100 million unsecured revolving credit facility.
Officials say required regulatory approvals associated with the acquisition of TLC's West Virginia agencies will result in a later closing date for the three home health and three hospice agencies located in that state.
The company's management anticipates that the West Virginia regulatory approvals and separate closing will occur in the second quarter of 2008.