LHC Group finalizes hospice and palliative care purchases in major Arizona and Oklahoma markets
LHC Group, Inc. (NASDAQ: LHCG) has finalized acquisition agreements in Arizona and Oklahoma, expanding its hospice services. This includes the purchase of Grace Hospice in Tulsa, Oklahoma, projected to generate $12.1 million in annual revenue, and the acquisition of East Valley Hospice and East Valley Palliative Care in Mesa, Arizona, expected to contribute $4.8 million annually. These additions enhance LHC Group's existing hospice footprint of over 110 locations nationwide, reinforcing their commitment to providing in-home hospice care.
- Acquisitions expected to generate combined annual revenue of approximately $16.9 million.
- Expansion into new markets (Oklahoma) enhances service offerings.
- Strengthens existing hospice footprint of over 110 locations.
- None.
LAFAYETTE, La., Jan. 5, 2021 /PRNewswire/ -- LHC Group, Inc. (NASDAQ: LHCG) announced today that it has finalized acquisition agreements in Arizona and Oklahoma – expanding the company's scope of services in the Phoenix-area market and representing LHC Group's initial hospice entry into the state of Oklahoma.
In Tulsa, Okla., the company has purchased Grace Hospice. The purchase agreement was first announced in November, and the company expects annualized revenue from this purchase of approximately
In Mesa, Ariz., the company has expanded its reach with the purchase of East Valley Hospice and East Valley Palliative Care – a deal that was first announced in November. This purchase aligns with LHC Group's co-location growth strategy to provide multiple in-home healthcare services in markets where there is a need and established, sensible benchmarks are met. LHC Group expects annualized revenue from this purchase of approximately
These acquisitions are the latest addition to LHC Group's existing hospice footprint of more than 110 locations around the nation. In-home, end-of-life hospice care helps patients live comfortably, with dignity, when a cure is no longer possible. Hospice professionals provide the emotional, spiritual, and medical support needed when patients are facing the final stages of life. Hospice care can be provided in any place a patient calls home, including nursing homes and assisted living facilities.
LHC Group is a leading national provider of in-home healthcare and hospice services and the joint venture partner of choice for almost 400 leading hospitals across the United States.
About LHC Group, Inc.
LHC Group, Inc. is a national provider of in-home healthcare services and innovations for communities around the nation, offering quality, value-based healthcare to patients primarily within the comfort and privacy of their home or place of residence. The company's 32,000 employees deliver home health, hospice, home and community based services, and facility-based care in 35 states and the District of Columbia – reaching 60 percent of the U.S. population aged 65 and older. As the preferred joint venture partner for almost 400 leading U.S. hospitals and health systems, LHC Group works in cooperation with providers to customize each partnership and reach more patients and families with an effective and efficient model of care.
Forward-looking Statements
Certain statements and information in this press release may be deemed to contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may include, but are not limited to, statements relating to our objectives, plans and strategies, and all statements, other than statements of historical facts, that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future. These statements are often characterized by terminology such as "believe", "hope", "may", "anticipate", "should", "intend", "plan", "will", "expect", "estimate", "project", "positioned", "strategy" and similar expressions, and are based on assumptions and assessments made by LHC Group's management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Any forward-looking statements in this press release are made as of the date hereof, and LHC Group undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Important factors that could cause actual results, developments, and business decisions to differ materially from forward-looking statements are described in LHC Group's most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, including the sections entitled "Risk Factors", as well LHC Group's current reports on Form 8-K, filed with the Securities and Exchange Commission.
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Eric Elliott | Mark Willis |
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SOURCE LHC Group, Inc.
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