LHC Group, Inc. (NASDAQ:LHCG), a national provider of home health, hospice, community-based and comprehensive post-acute healthcare services, today announced that it has acquired the assets of Heartlite Hospice, a subsidiary of Hospice of America, Inc. Heartlite Hospice has four locations, two located in the Certificate of Need state of Alabama and two located in Georgia.
Heartlite’s licensed hospice service area covers eight counties in Alabama and 29 counties in Georgia, including 19 counties in which LHC is licensed for home health. The estimated population of the licensed service area is over 5.7 million with more than 652,000 over 65 years of age. Estimated annualized revenue from this transaction is approximately $6.8 million. This acquisition is anticipated to be accretive to LHC Group’s 2016 earnings by approximately $0.01 per diluted share.
Keith G. Myers, LHC Group chairman and CEO, said, “It is with great pleasure that I welcome the healthcare professionals from Heartlite Hospice into our growing LHC Group family. We are proud to be part of these communities in Alabama and Georgia and look forward to collaborating with local physicians to provide caring and compassionate services to terminally ill patients and their families within the comfort and privacy of their home.”
