Roto-Rooter Completes Healthcare Acquisition
April 1, 2004
Roto-Rooter's Comfort Care Holdings subsidiary completed its merger with VITAS Healthcare Corp. Under the terms of the agreement, VITAS shareholders will receive cash of $30 per share. The transaction totaled about $406 million in cash, which Roto-Rooter funded with debt financing and the proceeds from the sale of 2 million shares of Roto-Rooter Inc. Capital Stock, issued in a private placement at $50 per share.