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LHC Group Acquires Home Health And Hospice Provider In West Virginia

Stocks in this article: LHCG

LAFAYETTE, La., April 3, 2014 (GLOBE NEWSWIRE) -- LHC Group, Inc. (Nasdaq:LHCG), a national provider of home health, hospice and comprehensive post-acute healthcare services, announced today that it has acquired the assets of a home health and hospice provider in the Certificate of Need (CON) state of West Virginia and signed a definitive purchase agreement to acquire the assets of a home health and community-based service provider in the CON state of North Carolina. Annual combined revenue for the two transactions is approximately $2 million.

LHC Group acquired St. Joseph Hospital Home Health and Hospice located in Buckhannon, West Virginia, effective April 1, 2014. The service area includes seven counties for home health and six counties for hospice. The Home Health services division is now known as " West Virginia Home Health" and Hospice continues to be known as " St. Joseph's Hospice."

LHC Group has also signed a definitive purchase agreement to acquire the assets of Professional Nursing Services, which is expected to close on May 1, 2014, subject to customary closing conditions. The acquisition comprises a home health provider and four community-based service providers located near Raleigh, North Carolina. The service area includes nine counties for home health and four counties for community-based services. Upon closing of the transaction, the Home Health services division will be known as " North Carolina Home Health" and the Community-Based services division will continue to be known as " Professional Nursing Services."

Keith G. Myers, LHC Group chairman and CEO, said, "It is with great pleasure that I welcome the healthcare professionals from St. Joseph Hospital Home Health and Hospice and Professional Nursing Services into our growing LHC Group family. We are proud to be part of these communities and look forward to collaborating with St. Joseph's Hospital and local clinicians to deliver high-quality healthcare that allows patients to safely remain in the comfort of their homes."

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