VistaCare investor to monitor company's deal with Odyssey HealthCare

By Lisa Kerner

Charlotte, N.C., Jan. 17 - VistaCare, Inc. investor Perry Corp. said it "may engage in communications" with respect to the company's proposed acquisition by Odyssey HealthCare, Inc.

Perry may discuss the terms and conditions of the proposed acquisition with VistaCare, other VistaCare stockholders or third parties including Odyssey, according to a schedule 13D filing with the Securities and Exchange Commission.

The investor beneficially owns 1,151,570 shares, or 6.83%, of VistaCare's outstanding stock.

On Jan. 15, Odyssey agreed to acquire VistaCare for $8.60 per share, or approximately $147.1 million. A termination fee of $4.41 million is included in the agreement, according to a prior SEC filing.

The transaction is expected to close in the first quarter.

It was previously reported that Odyssey plans to fund the transaction with $30 million of its own cash and a funded commitment of $150 million from GE Capital, consisting of a five-year $30 million revolving credit facility and a six-year $120 million term loan, the release stated.

Both VistaCare and Odyssey are hospice care providers. VistaCare is located in Scottsdale, Ariz., and Odyssey is based in Dallas.

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