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Home health care equipment company AdaptHealth Corp. AHCO,
on Tuesday announced an agreement to buy AeroCare Holdings Inc., a home respiratory and medical equipment distribution company, in a cash and stock transaction valued at just over $ 2.0 billion. The company also raised its range of revenue guidance for fiscal 2021, from $ 1.30 billion to $ 1.40 billion, to $ 2.05 billion to $ 2.20 billion, from $ 1.37 billion. Under the terms of the AeroCare deal, AdaptHealth will pay out $ 1.1 billion in cash and 31 million common shares of AdaptHealth, which, based on Monday’s closing price of $ 29.86, would be valued at $ 925.7 million. The deal is expected to close in the first quarter of 2021. AdaptHealth stock, which is still inactive in pre-release, has climbed 172.0% year-to-date, while the S&P 500 SPX,
gained 12.1%.
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