LHC Group announces finalization of purchase agreement and joint venture partnership in New Jersey
June 03 2019 - 6:30AM
LHC Group, Inc. (NASDAQ: LHCG) and AtlantiCare – A Member of
Geisinger have finalized a previously announced joint venture (JV)
agreement and purchase that includes home health and hospice
services at AtlantiCare in Atlantic County, New Jersey – expanding
LHC Group’s footprint within the state.
In April, LHC Group and Geisinger finalized their previously
announced JV partnership for home health and hospice services at
Geisinger locations in Pennsylvania. These agencies, which serve
their local communities in the states of Pennsylvania and New
Jersey, represent annualized revenue of approximately $35
million.
The home health and hospice service of Geisinger and AtlantiCare
deliver patient-centered care for those needing 24/7 access to
healthcare in the comfort of their home and for patients in need of
end-of-life care.
This acquisition further supports LHC Group’s ongoing strategy
to work with its JV partners to expand their service capacity and
capability in key markets. Healthcare JV partnerships are a key
component in helping patients manage their conditions and receive
efficient and effective care.
Working together, LHC Group and its partners deliver a level of
in-home healthcare service that is recognized industry-wide for
consistent quality. They provide affordable care options that offer
the guidance, support, and resources patients and families need to
make an informed decision for themselves or a loved one.
LHC Group is a leading national provider of in-home healthcare
services and the joint venture partner of choice for 350 hospitals
across the United States.
About LHC Group, Inc.LHC Group, Inc. is a
national provider of in-home healthcare services and innovations,
providing quality, value-based healthcare to patients primarily
within the comfort and privacy of their home or place of residence.
LHC Group’s services cover a wide range of healthcare needs for
patients and families dealing with illness, injury, or chronic
conditions. The company’s 32,000 employees deliver home health,
hospice, home and community based services, and facility-based care
in 35 states and the District of Columbia – reaching 60 percent of
the U.S. population aged 65 and older. LHC Group is the preferred
in-home healthcare partner for 350 leading hospitals around the
country.
Forward-looking
StatementsCertain statements and information in this press
release may be deemed to contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements may include, but are not limited to,
statements relating to our objectives, plans and strategies, and
all statements, other than statements of historical facts, that
address activities, events or developments that we intend, expect,
project, believe or anticipate will or may occur in the future.
These statements are often characterized by terminology such as
“believe”, “hope”, “may”, “anticipate”, “should”, “intend”, “plan”,
“will”, “expect”, “estimate”, “project”, “positioned”, “strategy”
and similar expressions, and are based on assumptions and
assessments made by LHC Group’s management in light of their
experience and their perception of historical trends, current
conditions, expected future developments and other factors they
believe to be appropriate. Any forward-looking statements in this
press release are made as of the date hereof, and LHC Group
undertakes no duty to update or revise any such statements, whether
as a result of new information, future events or otherwise.
Forward-looking statements are not guarantees of future performance
and are subject to risks and uncertainties. Important factors that
could cause actual results, developments, and business decisions to
differ materially from forward-looking statements are described in
LHC Group’s most recent Annual Report on Form 10-K and its
Quarterly Reports on Form 10-Q, including the sections entitled
“Risk Factors”, as well LHC Group’s current reports on Form 8-K,
filed with the Securities and Exchange Commission.
Contacts: |
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LHCG Investor RelationsEric
Elliott(337) 233-1307Eric.Elliott@LHCgroup.com |
LHCG Media RelationsMark Willis(337)
769-0673Mark.Willis@LHCgroup.com |
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