SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2023

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTSOn May 3, 2023 the Company entered into a definitive merger agreement with Amedisys, Inc. (“Amedisys”), a leading provider of healthcare in home health and hospice settings. Under the terms of the merger agreement, the Company will issue new shares of its common stock to Amedisys’s stockholders, which will result in the Company’s stockholders holding

approximately 64.5% of the combined company. Following the close of the transaction, the combined company common stock is expected to continue to be listed on the Nasdaq Global Select Market. The transaction is currently expected to close in the second half of 2023, subject to approval by the Company’s and Amedisys’s stockholders and other customary closing conditions, including receipt of applicable regulatory approvals.

In connection with its entry into the merger agreement, the Company entered into a debt commitment letter, dated as of May 3, 2023, with Goldman Sachs Bank USA ("Goldman Sachs"), pursuant to which Goldman Sachs has committed to provide a 364-day senior secured term loan facility in an aggregate principal amount of up to $450 million (the "Bridge Loan Facility"), subject to customary conditions as set forth therein. The debt commitment letter provides for a single borrowing of non-amortizing terms loans under such Bridge Loan Facility in an amount up to $450.0 million, which term loans would mature on the date that is 364 days following execution of the definition documentation in respect thereof. The net proceeds of the Bridge Loan Facility may be used to refinance existing indebtedness of Amedisys and to pay related fees and expenses.