LHC Group to purchase hospice care provider in Tucson market
LHC Group (NASDAQ: LHCG) announced its agreement to purchase two Casa de la Luz hospice locations in Tucson, Arizona, set to close on July 1, 2021. This acquisition aims to enhance hospice services in the Tucson region and aligns with LHC Group's growth strategy. The expected annual revenue from this acquisition is approximately $23 million, with no material impact on 2021 diluted earnings per share. LHC Group currently operates over 120 hospice facilities nationwide, dedicated to providing compassionate end-of-life care.
- Acquisition of two Casa de la Luz provider locations expected to generate approximately $23 million in annual revenue.
- Acquisition aligns with LHC Group's growth strategy for expanding hospice services in the Tucson market.
- None.
LAFAYETTE, La., May 18, 2021 /PRNewswire/ -- LHC Group, Inc. (NASDAQ: LHCG) today announced it has agreed to purchase two Casa de la Luz provider locations in Tucson, Ariz. The agreement is expected to close on July 1, 2021, subject to customary closing conditions.
"This is an outstanding opportunity to continue the Casa legacy by offering enhanced and much-needed hospice services for patients and families in the Tucson region," said Keith Myers, LHC Group chairman and CEO. "We look forward to bringing compassion and comfort, as well the high-quality level of care LHC Group is known for, to patients and their families facing tough decisions about end-of-life care."
This acquisition expands LHC Group's scope of services in the Tucson market – in alignment with its co-location growth strategy to provide multiple in-home healthcare services in certain markets.
LHC Group expects annualized revenue from this purchase of approximately
LHC Group operates more than 120 hospice locations around the nation. In-home, end-of-life hospice care helps patients live comfortably and with dignity. 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.
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. 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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