Hospice company expands holdings

LHC Group, a Louisiana-based hospice and home health provider, has entered into deals with two smaller operators to expand its holdings.

LHC is acquiring four of Birmingham-based Hospice Complete's hospice agencies in Alabama. The agencies cover 22 counties statewide and provide revenues of about $4.8 million a year. They will continue to operate under the Hospice Complete name.

LHC is also acquiring the Vital Hospice in Hammond, La. The hospice serves 18 parishes in the southeastern portion of the state and has revenues of about $1.5 million per year.

"These hospice acquisitions fit perfectly into our strategy of growing our hospice footprint in markets where we already have a strong presence in home health," LHC CEO Keith G. Myers said in a statement. "We look forward to continuing with this strategy throughout 2011 and being able to offer quality home health and hospice services to the patients and families in our service areas."

In addition to the acquisitions, LHC entered into a joint venture with Marshall County Hospital in Benton, Ky., to provide home health services.

The terms of the transactions were not disclosed.

LHC is one of the fastest-growing players in the hospice and home care markets, with revenue expected to top $600 million for 2010.

For more:
- read the Healthcare Finance News article
- read the LHC press release

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