Form 4: Amedisys Director Sells Shares Post-Merger

Amedisys Director Jeffrey A. Rideout reported the disposition of all his shares following the company's acquisition by UnitedHealth Group for $101 per share in cash.

Summary

• Reporting Person Jeffrey A. Rideout, a Director of Amedisys Inc. (AMED), reported a change in beneficial ownership.
• On August 14, 2025, UnitedHealth Group Incorporated acquired Amedisys, Inc. (the "Issuer") pursuant to an Agreement and Plan of Merger dated June 26, 2023, as modified on December 26, 2024.
• At the effective time of the merger, each outstanding share of Amedisys common stock automatically converted into the right to receive $101 per share in cash.
• This transaction included 1,690 time-based Restricted Stock Units (RSUs) held by Mr. Rideout, which were cancelled and converted into the $101 per share cash consideration.
• Following the reported transaction, Mr. Rideout's beneficial ownership of Amedisys common stock is 0 shares.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 7

Explanation: The filing reports the expected completion of a pre-announced merger, which provides a clear cash exit for shareholders at a previously agreed-upon price. This is a neutral to positive event for shareholders who receive the cash, but marks the end of Amedisys as an independent entity.

Positives

• The merger provides Amedisys shareholders, including the reporting person, with a clear cash exit at a pre-determined value of $101 per share.
• The transaction was executed as part of a pre-planned Rule 10b5-1(c) contract, indicating an orderly and expected disposition of shares.

Negatives

• The reporting person no longer holds any beneficial ownership in Amedisys, signifying a complete divestment of their stake.
• Amedisys ceases to be an independent publicly traded entity, becoming a wholly-owned subsidiary of UnitedHealth Group.

Future Outlook

NA

Industry Context

The acquisition of Amedisys by UnitedHealth Group reflects a broader trend of consolidation within the healthcare sector, particularly in home health and hospice services. Larger integrated healthcare providers are seeking to expand their care delivery capabilities and market share, underscoring the strategic value placed on post-acute care services by major players like UnitedHealth Group.

Comparison to Industry Standards

• The $101 per share cash consideration for Amedisys represents a specific valuation for a leading home health and hospice provider.
• Comparable acquisitions in the home health and hospice sector include LHC Group's acquisition by Optum (a UnitedHealth Group subsidiary) for approximately $5.4 billion in 2023, valuing LHC Group at $170 per share. While the per-share price differs, both transactions highlight the strategic importance of these services to large healthcare conglomerates.
• Another relevant comparison is the proposed acquisition of Signify Health by CVS Health for approximately $8 billion, which also focused on expanding into home healthcare and value-based care.
• The Amedisys deal, while potentially smaller in total value than some other major healthcare acquisitions, aligns with the industry trend of vertical integration aimed at controlling more aspects of the patient care continuum.

Stakeholder Impact

• Shareholders: Received $101 per share in cash, providing a liquidity event and a defined return on investment.
• Employees: Amedisys is now a wholly-owned subsidiary of UnitedHealth Group, which could lead to integration efforts and potential changes in organizational structure or benefits.
• Customers/Patients: Services will now be under the UnitedHealth Group umbrella, potentially leading to changes in service delivery or integration with UnitedHealth Group's broader healthcare network.

Key Dates

Recommendation

Amedisys, Inc. has been acquired by UnitedHealth Group and is no longer a publicly traded company. Shareholders would have received the cash consideration of $101 per share. For investors who held shares, the transaction is complete, and no further action is required. For new investors, there is no stock to buy or sell.

Keywords

Amedisys, AMED, UnitedHealth Group, Merger, Acquisition, Form 4, Insider Transaction, Beneficial Ownership, Healthcare, Home Health, Hospice