Amedisys-UnitedHealth Deal Approved by Shareholders

Amedisys (NASDAQ: AMED) stockholders voted in favor of the pending acquisition from UnitedHealth Group (NYSE: UNH) on Friday, Sept. 8.

This vote followed a bidding battle between Option Care Health and Optum, UnitedHealth Group’s health care provider, that occurred in June. Optum struck a deal with Amedisys in an all-cash agreement valued at around $3.3 billion. 

In an August 10 filing with the United States Security and Exchange Commission (SEC), Amedisys recommended that Amedisys stockholders approve the Amedisys merger proposal. Additionally, the special meeting was held to vote on two other proposals. The proposals were as follows:

• Amedisys Proposal 1: Adoption of the merger agreement. To consider and vote on the Amedisys merger proposal;
• Amedisys Proposal 2: Approval, on an advisory non-binding basis, of certain merger-related compensatory arrangements with Amedisys named executive officers. To consider and vote on the Amedisys compensation proposal; and
• Amedisys Proposal 3: Adjournment of the Amedisys special meeting. To consider and vote on the Amedisys adjournment proposal.

The company’s stockholders approved the adoption of the merger agreement in Proposal 1 as well as approved Proposal 2.

• For Proposal 1, 25,069,466 votes were cast in favor, 30,082 votes were cast against it and 67,374 votes were abstained. 
• For Proposal 2, 23,746,599 votes were in favor, 1,340,582 were against the proposal and 79,741 votes were abstained. 

Amedisys said in light of the approval of Proposal 1, Proposal 3 was “rendered moot and was not voted on at the special meeting.”

UnitedHealth and Amedisys said they expect the merger to close in 2024.