{"id":535378,"date":"2021-09-08T07:04:25","date_gmt":"2021-09-08T11:04:25","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/lhc-group-to-acquire-home-health-hospice-and-therapy-assets-in-22-states-from-hca-healthcare-and-brookdale-health-care-services-venture\/"},"modified":"2021-09-08T07:04:25","modified_gmt":"2021-09-08T11:04:25","slug":"lhc-group-to-acquire-home-health-hospice-and-therapy-assets-in-22-states-from-hca-healthcare-and-brookdale-health-care-services-venture","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lhc-group-to-acquire-home-health-hospice-and-therapy-assets-in-22-states-from-hca-healthcare-and-brookdale-health-care-services-venture\/","title":{"rendered":"LHC Group to acquire home health, hospice and therapy assets in 22 states from HCA Healthcare and Brookdale Health Care Services Venture"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n LAFAYETTE, La.<\/span>, Sept. 8, 2021<\/span> \/PRNewswire\/ —\u00a0<\/b>LHC Group, Inc. (NASDAQ: LHCG) today announced significant expansions of its nationwide footprint, resources, and service capabilities. The company has entered into an agreement to purchase Brookdale Health Care Services agencies from the recently formed home health, hospice and outpatient therapy venture between HCA Healthcare and Brookdale Senior Living Inc. The agencies, which are not in areas served by HCA Healthcare, include 23 home health locations, 11 hospice, and 13 therapy agencies across 22 states. The agencies will continue to operate under their existing brands and locations.<\/p>\n

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This agreement creates an abundance of opportunity to positively impact more lives.<\/div>\n

LHC Group expects annualized revenue from this purchase of approximately $146 million<\/span> and, due to the expected timing of the closing, that it will not materially affect its 2021 diluted earnings per share. It is anticipated that the purchase will be finalized in the fourth quarter of 2021, subject to customary closing conditions.<\/p>\n

“In short, this agreement creates an abundance of opportunity for LHC Group to positively impact more lives through the delivery of quality healthcare in cooperation with our new colleagues from Brookdale Health Care Services,” said Keith Myers<\/span>, LHC Group Chairman and Chief Executive Officer. “As such, we will be able to serve more people in the comfort of their home or place of residence. LHC Group also looks forward to working with Brookdale Senior Living’s 226 senior living communities in these territories.”<\/p>\n

“In July, HCA Healthcare purchased a majority stake in Brookdale Health Care Services to expand access to healthcare services for our patients,” said Sam Hazen<\/span>, Chief Executive Officer of HCA Healthcare. “We believe the sale to LHC Group of these sites of care, which were part of that transaction and are not in communities we currently serve, positions them for continued success.”\u00a0<\/p>\n

Lucinda “Cindy” Baier, Brookdale Senior Living’s President and Chief Executive Officer, said, “We are looking forward to working with LHC Group, another national provider of healthcare services. This transaction will further strengthen our liquidity, maintain our 20% interest in the venture with HCA Healthcare, and ensure that high-quality home health and hospice services continue to be available to our residents at communities in these markets. I’m pleased that Brookdale’s residents will benefit from a seamless offering of services across our broad care continuum.”<\/p>\n

On Aug. 4, 2021<\/span>, LHC Group’s guidance for acquired annual revenue for 2021 was increased from $350 million<\/span> to $500 million<\/span>, compared with $150 million<\/span> to $200 million<\/span> previously. With this latest agreement, the company has now acquired or announced $308 million<\/span> in M&A activity year-to-date.<\/p>\n

This acquisition marks LHC Group’s initial entry into two new states \u2013 Minnesota<\/span> and New Mexico<\/span> — and expands its service areas in states where the company already operates. The agencies and locations include the following:<\/p>\n

\n Home Health<\/u>\n <\/p>\n