Amedisys AMED recently completed the acquisition of Homecare Preferred Choice, Inc. which operates by the name of AseraCare Hospice. Per the terms of the deal, announced back in April, Amedisys acquired full ownership interests in AseraCare Hospice for a deal value of $235 million.AseraCare is a national hospice care provider with an executive office in Plano, TX and administrative support center in Fort Smith, AK. The company has a huge patient base and currently caters to more than 2,100 patients daily in 44 locations across 14 states, generating approximately $117 million in annual revenues.Deal DetailsThe cash purchase price of $235 million includes a $32 million tax asset, bringing the net purchase price to $203 million.Importance of the DealThe latest deal is well aligned to the company’s strategy of acquiring new business lines to complement its existing hospice business. The company had plans to purchase AseraCare for long. The company expects AseraCare’s strong focus on always providing high-quality patient care to align with Amedicys business and its culture. Amedisys expects the integration of AseraCare business to add greater scale to its existing nationwide network. The combined company will include 190 care centers in 35 states, with an daily average of approximately 14,000 patients and approximately 7,000 hospice employees.Recent Significant Hospice Takeovers by AmedisysThe acquisition of AseraCare is the fourth hospice acquisition for Amedisys since 2019. The company acquired Asana Hospice in January 2020. In April 2019, the company acquired RoseRock Healthcare, a prominent hospice care provider in Tulsa, OK. The acquisition was made with the aim of boosting Amedisys’ presence in Canada. .Further, the acquisition of Compassionate Care Hospice in February 2019, a national hospice care provider, was made with the aim of adding significant new access to Amedisys’ nationwide network of hospice care centers. This acquisition made Amedisys the third largest hospice organization in the United States.Market ProspectsPer Market Research Future, the global hospice care market is projected to witness CAGR of 8.1% during the 2018-2023 period. Considering its abundant market prospects, the latest acquisition is a strategic fit.Price PerformanceOver the past six months, Amedisys’ shares have outperformed its industry. The stock has risen 14% compared with the industry’s 3.5% rise.Zacks Rank & Stocks to ConsiderAmedisys currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader medical space are Aphria Inc. APHA, Surmodics, Inc. SRDX and Owens Minor, Inc. OMI.Aphria’s long-term earnings growth rate is projected to be 24.6%. It currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Surmodics’ long-term earnings growth rate is estimated to be 10%. The company presently sports a Zacks Rank #1.Owens Minor’s long-term earnings growth rate is estimated to be 8.3%. It currently carries a Zacks Rank #2.Zacks Top 10 Stocks for 2020In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.Access Zacks Top 10 Stocks for 2020 today >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amedisys, Inc. (AMED): Free Stock Analysis Report Owens Minor, Inc. (OMI): Free Stock Analysis Report Surmodics, Inc. (SRDX): Free Stock Analysis Report Aphria Inc. (APHA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research