LHC Group to purchase Heart of Hospice
LHC Group (NASDAQ: LHCG) announced a definitive agreement to purchase Heart of Hospice, expanding its presence in five states, including Arkansas and Louisiana. This acquisition includes 16 hospice agencies, projected to generate annualized revenue of approximately $92.5 million. The deal is expected to close in Q3 2021 and will not materially impact 2021 diluted earnings per share. As a leader in home healthcare services, LHC Group serves 60% of the U.S. population aged 65 and older, collaborating with nearly 400 hospitals and health systems to deliver effective care.
- Acquiring 16 hospice agencies will enhance LHC Group's services in five states.
- Projected annualized revenue from the acquisition is approximately $92.5 million.
- The acquisition will not materially affect 2021 diluted earnings per share.
- None.
LAFAYETTE, La., June 2, 2021 /PRNewswire/ -- LHC Group, Inc. (NASDAQ: LHCG) today announced it has signed a definitive agreement to purchase Heart of Hospice from EPI Group, LLC – a family-owned holding company based in Charleston, South Carolina -- expanding the company's hospice footprint in five states. The acquisition includes 16 hospice agencies in Arkansas, Louisiana, Mississippi, Oklahoma, and South Carolina. The providers will continue to operate under the Heart of Hospice name.
The acquisition is expected to close during the third quarter of 2021, subject to customary closing conditions. LHC Group expects annualized revenue from this purchase of approximately
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. 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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SOURCE LHC Group, Inc.
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