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Amedisys Inc (AMED+0.38%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing details a proposed merger with UnitedHealth Group (UNH-0.34%), with Amedisys becoming a wholly owned subsidiary. The merger is subject to regulatory approvals and other conditions.
The company reported a net service revenue increase to $587.7 million from $556.2 million in the same quarter the previous year. This was driven by volume growth and rate increases, offset by wage inflation and a shift in payor mix.
Operating income for the quarter was $30.3 million, down from $42.2 million in the previous year, impacted by increased merger-related expenses.
Net income attributable to Amedisys, Inc. was $16.9 million, compared to $26.0 million in the previous year.
Cash provided by operating activities was $151.4 million, while cash used in investing and financing activities was $7.1 million and $37.7 million, respectively.
Amedisys had a working capital of $579.9 million as of September 30, 2024. The company maintains a revolving credit facility with $511.2 million available.
The filing also discusses the impact of Hurricane Helene on operations, leading to a reduction in home health episodic admissions and increased costs.
Amedisys continues to focus on its home health, hospice, and high acuity care segments, with a reported increase in net service revenue across these areas.
The company identified risks related to cybersecurity incidents, highlighting a previous impact from a Change Healthcare cybersecurity incident affecting cash flow and accounts receivable.
Amedisys plans to hold its 2024 annual meeting on December 30, 2024, unless the merger with UnitedHealth Group is completed before that date.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Amedisys Inc quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.