Option Care Health Up 6% On Amedisys' Disclosure Of Unsolicited Proposal From Optum

(RTTNews) - Shares of Option Care Health, Inc. (OPCH) are rising more than 6% Monday morning at $30.68 after it affirmed that its proposed merger with Amedisys is still compelling.

The company stated this after Amedisys' disclosure of an unsolicited proposal from Optum.

"Our compelling all-stock transaction, expected to close in the second half of 2023, allows stockholders of both companies to participate in the upside of the combined company, which will be a differentiated leader in home health and alternate site care with unmatched scale and a unique cash flow profile." Option Care Health said.

Option Care expects that the merger with Amedisys will generate more than $500 million in annual cash flow by 2025 and more than $9 billion of combined revenue by 2027.

OPCH has traded in the range of $24.23 - $35.87 in the last 52 weeks.