Amedisys to buy Texas hospice peer

The leaders of home health and hospice company Amedisys have agreed to pay more than $200 million for a Texas-based peer that will grow its hospice unit by more than 30 percent.

Amedisys, which is headquartered in Louisiana but has a large executive office in Cummins Station, plans to pay cash for the parent of AseraCare Hospice and close on its deal around June 1. Founded in 1994, AseraCare runs 44 locations in 14 states, employs about 1,200 people and has annual revenues of $117 million. Amedisys’ hospice division last year rang up $617 million in revenues and posted a $143 million operating profits.