LHC Group Signs Purchase Agreement to Acquire AseraCare Home Health
LAFAYETTE, La., May 30, 2013 (GLOBE NEWSWIRE) -- LHC Group Inc. (Nasdaq:LHCG)
has entered into a purchase agreement to acquire the assets of AseraCare Home
Health. The transaction will expand LHC Group's geographical footprint to 310
locations across 26 states.
The acquisition will include four home health agencies located in Atlanta,
Ga.; Bloomington, Minn.; Milwaukee, Wis.; and Pittsburgh, Pa. The estimated 65
and older population in the acquired service area totals 1.2 million. Annual
revenue is approximately $5 million.
"It is with great pleasure that I welcome AseraCare's home health patients and
employees into our LHC Group family," said Keith G. Myers, LHC Group's
chairman and CEO. "We are proud to be part of these communities and look
forward to partnering with local clinicians to deliver high-quality health
care that allows patients to safely remain in the comfort of their homes."
The transaction is expected to close on oraround June28th and is subject to
customary closing conditions.
About LHC Group Inc.
LHC Group Inc. is a national provider of post-acute care, providing quality,
cost-effective health care to patients within the comfort and privacy of their
home or place of residence. LHC Group provides a comprehensive array of
post-acute healthcare services through home health, hospice and
community-based service agencies in its home-based division and long-term
acute care hospitals in its facility-based division.
Certain matters discussed in this press release constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995, such as statements about the Company's future financial performance
and the strength of the Company's operations. Such forward-looking statements
may be identified by words such as "continue," "expect," and similar
expressions. Forward-looking statements involve a number of risks and
uncertainties that may cause actual results to differ materially from those
expressed or implied by such forward-looking statements, including changes in
reimbursement, changes in government regulations, changes in LHC Group's
relationships with referral sources, increased competition for LHC Group's
services, increased competition for joint venture and acquisition candidates,
changes in the interpretation of government regulations, and other risks set
forth in Item 1A. Risk Factors in LHC Group's Annual Report on Form 10-K for
the year ended December 31, 2012, filed with the Securities and Exchange
Commission. LHC Group undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
CONTACT: Eric Elliott
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