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Healthcare Watch: Gentiva To Buy Odyssey

May 25, 2010 (FinancialWire) — Gentiva Health Services, Inc. (NASDAQ: GTIV) said it has entered into a definitive merger agreement under which the company will acquire Odyssey HealthCare, Inc. (NASDAQ:  ODSY) in an all cash transaction for a price of $27 per share of Odyssey common stock, for an aggregate purchase price of around $1 billion.

Texas-based Odyssey is a provider of hospice care in the U.S.  Gentiva said that the combination of Odyssey's and Gentiva's existing hospice operations will create a leading hospice care provider in the U.S., with a combined average daily patient census of around 14,000 and operations in 30 states.

Georgia-based Gentiva Health Services is a provider of home health and hospice services, and acts as a single source for skilled nursing; physical, occupational, speech and neurorehabilitation services; hospice services; social work; nutrition; disease management education; help with daily living activities; and other therapies and services.

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