This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

LHC Group To Acquire Life Care Home Health

Stocks in this article: LHCG

LAFAYETTE, La., July 15, 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 signed a definitive asset purchase agreement with Life Care Home Health, Inc. and its operating subsidiaries, headquartered in Cleveland, Tennessee, to purchase 14 home health agencies across seven states for $10 million in cash. The transaction will increase LHC Group's geographical footprint to 352 locations across 30 states. The transaction, which is expected to close on September 1, 2014, subject to customary closing conditions, is anticipated to be accretive to LHC Group's 2015 earnings, with a neutral impact expected for 2014.

The combined service area of Life Care Home Health, Inc., which began its home health operations in 1996, includes 48 counties with an estimated 65 and older population of 2 million in the states of Arizona, Colorado, Massachusetts, Rhode Island, Tennessee, Utah and Washington. The states of Rhode Island, Tennessee and Washington are Certificate of Need (CON) states. The home health agencies to be purchased produced revenues of approximately $28.5 million for each of the calendar year 2013 and the trailing twelve months ended in May 2014, with approximately 90% coming from Medicare.

Life Care Home Health, Inc. is a sister company of Life Care Centers of America, Inc., which provides nursing home care and long-term health care services for residents in a variety of settings, including skilled nursing homes, assisted living facilities, retirement living communities and home care.

"Life Care Home Health and Life Care Centers of America are two highly regarded healthcare companies who share a mission and culture similar to LHC Group, which is helping patients maintain the highest quality of life while contributing to the communities in which they serve," said Keith Myers, LHC Group chairman and CEO. "We welcome the healthcare professionals at Life Care Home Health to the LHC Group family and look forward to combining the best practices of each company with the talents and experiences of the Life Care Home Health clinicians to deliver high-quality care that allows patients to safely remain in the comfort of their homes across the 48 counties in these seven states we are honored to serve."  

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs