Amedisys Reports Fourth Quarter and Year End 2024 Financial Results

Core Viewpoint - Amedisys, Inc. reported its financial results for the fourth quarter and full year of 2024, highlighting significant changes in revenue, net income, and operational metrics amid a pending merger with UnitedHealth Group [1][2]. Financial Performance - Net service revenue for Q4 2024 increased by $27.3 million to $598.1 million compared to $570.8 million in Q4 2023 [4]. - For the full year 2024, net service revenue rose by $111.9 million to $2,348.3 million from $2,236.4 million in 2023 [4]. - The company reported a net loss attributable to Amedisys, Inc. of $20.4 million for Q4 2024, which included merger-related expenses of $17.4 million and a non-cash goodwill impairment charge of $48.4 million [4]. - In contrast, the net income attributable to Amedisys, Inc. for Q4 2023 was $19.3 million, which included merger-related expenses of $11.5 million [4]. - Adjusted EBITDA for Q4 2024 was $54.6 million, down from $56.7 million in Q4 2023 [4]. - For the full year 2024, adjusted net income attributable to Amedisys, Inc. was $142.7 million, compared to $140.6 million in 2023 [4]. Operational Metrics - The company experienced a decline in Medicare revenue by 4% in Q4 2024, while non-Medicare revenue increased by 19% [19]. - Total admissions for Q4 2024 rose by 8% to 109,686 compared to 101,809 in Q4 2023 [19]. - The average Medicare revenue per completed episode increased to $3,030 in Q4 2024 from $2,997 in Q4 2023 [19]. Balance Sheet Highlights - As of December 31, 2024, total assets were $2,138.7 million, up from $2,060.2 million in 2023 [14]. - Cash and cash equivalents increased significantly to $303.2 million from $126.5 million in 2023 [14]. - Total liabilities stood at $958.7 million, compared to $940.4 million in 2023 [14]. Segment Information - In the Home Health segment, net service revenue for Q4 2024 was $377.0 million, up from $358.9 million in Q4 2023 [19]. - The Hospice segment reported net service revenue of $212.9 million for Q4 2024, compared to $206.0 million in Q4 2023 [23]. - The High Acuity Care segment generated $8.1 million in net service revenue for Q4 2024, an increase from $5.9 million in Q4 2023 [26].