VistaCare now part of Odyssey HealthCare

By Lisa Kerner

Charlotte, N.C., March 6 - Odyssey HealthCare, Inc. completed its $148 million acquisition of VistaCare, Inc., it was announced on Thursday.

All remaining outstanding shares of VistaCare were converted into the right to receive $8.60 per share in cash, Odyssey said in a news release.

It as previously reported that some 15.95 million shares, or 94%, of VistaCare class A common stock were validly tendered to and accepted by Odyssey subsidiary OHC Investment during the initial tender offer and the subsequent offering period.

Following the subsequent offering period, Odyssey and its affiliates owned a sufficient number of shares to effect a short-form merger.

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

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