LAFAYETTE, La., Nov. 9, 2020 /PRNewswire/ -- LHC Group, Inc.
(NASDAQ: LHCG) announced today that it has agreed to purchase East
Valley Hospice and East Valley Palliative Care in Mesa, Arizona. The agreement is expected to
close on January 1, 2021, subject to
customary closing conditions.
LHC Group expects annualized revenue from this purchase of
approximately $4.8 million and that
it will not materially affect its 2020 diluted earnings per share.
Both providers will continue to operate under the East Valley
Hospice and East Valley Palliative Care names, respectively.
"We look forward to welcoming the teams at East Valley to our
LHC Group family of providers," said Keith
Myers, LHC Group chairman and CEO. "We share a mission and
vision to provide high-quality, in-home service to those who place
their trust in us. Together, we will be able to bring hospice and
palliative care to even more patients and families in Mesa and the surrounding Phoenix metro area."
This acquisition expands the company's scope of services in the
Phoenix market – in alignment with
its co-location growth strategy to provide multiple in-home
healthcare services in markets where there is a need and
established, sensible benchmarks are met.
In San Marcos, Texas, the
company finalized an expansion of its joint venture with CHRISTUS
Health to enhance hospice services in that market. LHC Group first
announced the purchase agreement in October
2020.
LHC Group operates more than 110 hospice locations around the
nation. In-home, end-of-life hospice care helps patients live
comfortably, with dignity, when a cure is no longer possible.
Hospice professionals provide the emotional, spiritual, and medical
support needed when patients are facing the final stages of life.
Hospice care can be provided in any place a patient calls home,
including nursing homes and assisted living facilities.
Palliative care is specialized medical care that focuses on
quality of life for patients and their families dealing with the
symptoms and stress of a serious illness. Palliative treatment is
appropriate for patients who have been given a prognosis of one
year or less and are not ready or eligible for hospice care.
Palliative care may be provided concurrently with or without home
health care and without regard to the presence of curative or
life-prolonging care or homebound status.
LHC Group is a leading national provider of in-home healthcare
and hospice services and the joint venture partner of choice for
almost 400 leading hospitals across the
United States.
About LHC Group, Inc.
LHC Group, Inc. is a
national provider of in-home healthcare services and innovations
for communities around the nation, offering quality, value-based
healthcare to patients primarily within the comfort and privacy of
their home or place of residence. 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. As the preferred joint
venture partner for almost 400 leading U.S. hospitals and health
systems, LHC Group works in cooperation with providers to customize
each partnership and reach more patients and families with an
effective and efficient model of care.
Forward-looking Statements
Certain 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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Investor
Relations
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Media
Relations
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Eric
Elliott
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Mark
Willis
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(337)
233-1307
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(337)
769-0673
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Eric.Elliott@LHCgroup.com
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Mark.Willis@LHCgroup.com
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SOURCE LHC Group, Inc.