LHC Group finalizes purchase of Heart of Hospice, with locations in five states
LHC Group (NASDAQ: LHCG) has finalized the acquisition of Heart of Hospice, expanding its hospice services across five states: Arkansas, Louisiana, Mississippi, Oklahoma, and South Carolina. This deal adds 16 new locations to LHC Group's existing 144 hospice locations, with expected annualized revenue of approximately $92.5 million. Heart of Hospice will continue to operate under its name, with its CEO Carla Davis leading the new division. The acquisition aligns with LHC Group's strategy of enhancing in-home healthcare services while maintaining a commitment to quality care.
- Acquisition adds 16 new hospice locations, expanding footprint to 144.
- Expected annualized revenue from the acquisition is approximately $92.5 million.
- Heart of Hospice will maintain its brand, assuring continuity of care and reputation.
- None.
LAFAYETTE, La., Sept. 1, 2021 /PRNewswire/ -- LHC Group, Inc. (NASDAQ: LHCG) today announced it has finalized its previously announced agreement to purchase Heart of Hospice from EPI Group, LLC – a deal that expands the company's hospice footprint in five states. The agreement was first announced on June 2, 2021.
The acquisition expands the company's hospice footprint in five states – Arkansas, Louisiana, Mississippi, Oklahoma, and South Carolina – bringing 16 new hospice locations into the LHC Group family of now 144 hospice locations. These new locations will continue to operate under the Heart of Hospice name. LHC Group expects annualized revenue from this purchase of approximately
"This is a tremendous achievement in our ongoing initiative to grow and expand our hospice services, as we welcome more than 750 Heart of Hospice employees, a combined 150 years in executive hospice leadership, and an outstanding reputation for quality and compliance to the LHC Group family," said Keith Myers, LHC Group chairman and CEO.
The company also announced that Carla Davis, Heart of Hospice CEO, will continue leading her team as president of the newly created Heart of Hospice division.
"We are thrilled to be part of the LHC Group family, and I look forward to joining the hospice leadership team to transform end-of-life care across America," Davis said. "Heart of Hospice and LHC Group care for both small and large communities. One of the unique organizational tenants we share is our commitment to serve all people, including those living in rural communities who wish to remain there and still receive high-quality care. Heart of Hospice will maintain the same excellent service and compassionate caregivers, and with the additional benefit of supportive infrastructure and health system and payor partnerships forged by LHC Group in the 27 years since its founding."
In addition to expanding LHC Group's scope of services, the acquisition aligns with the company's co-location strategy to provide multiple in-home healthcare services in certain markets, as well as its strategy of retaining and operating under a family of well-known local, community-focused brands.
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 30,000 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. Through Imperium Health, the company's ACO management and enablement company, LHC Group helps partners improve both savings and patient outcomes with a value-based approach. As the preferred joint venture partner for more than 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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SOURCE LHC Group, Inc.
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