Timon's ownership interest in VistaCare drops below 5%

By Lisa Kerner

Charlotte, N.C., Jan. 29 - VistaCare, Inc. investor Philip C. Timon sold 1,524,664 shares of the company's stock on Jan. 16, reducing his stake in the company to 3.9%.

The shares were priced from $8.305 to $8.314, according to a schedule 13D filing with the Securities and Exchange Commission.

Timon beneficially owns 655,000 shares of VistaCare's common stock.

It was previously reported that Odyssey HealthCare, Inc. agreed to acquire VistaCare for $8.60 per share, or approximately $147.1 million.

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

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