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Beacon Hospice is sold for $125m

Associated Press / April 19, 2011

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Amedisys Inc., a provider of home health services, has agreed to buy the Boston-based hospice company Beacon Hospice for about $125 million.

Beacon has 23 free-standing locations and one inpatient unit, serving Massachusetts, Maine, New Hampshire, Rhode Island, and Connecticut. Beacon’s 2010 revenue is about $80 million.

Amedisys of Baton Rouge, La., expects the acquisition to add 5 to 7 cents to its 2011 earnings, excluding one-time costs.

William F. Borne, Amedisys’ chief executive, 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 fell 50 cents to $34.06.