Lafayette-based home health and hospice provider LHC Group Inc. announced this week that it has signed a definitive stock purchase agreement with BioScip Inc. to acquire two of its operating subsidiaries doing business as Deaconess HomeCare and Elk Valley Health Services.

The $60 million transaction will add 33 locations in five states, increasing LHC Group’s geographical footprint to 342 locations across 27 states. The deal, which is expected to close by the end of the first quarter 2014, is anticipated to be accretive to LHC Group’s 2014 earnings by between 5 cents and 10 cents per diluted share.

Both companies are traded on the Nasdaq, LHCG and BIOS, respectively.

LHC Group officials say in a prepared release that the combined service area of Deaconess HomeCare and Elk Valley Health Services, collectively one of the nation’s largest home health providers, includes 121 counties for home health, 30 counties for hospice and 95 counties for community-based services in the states of Mississippi, Tennessee, Kentucky, Illinois, and Nebraska. Annual revenues are approximately $72.6 million.

Deaconess HomeCare was established in 1969.

Keith-Myers-small
LHC Group Chairman and CEO Keith Myers

“When we founded LHC Group 20 years ago, Deaconess HomeCare already had a strong reputation as one of the nation’s premier providers,” Keith Myers, LHC Group chairman and CEO, said in the press release. “Joining forces with a provider of this caliber marks a great day for our company."

Myers said he anticipates this type of consolidation continuing in the industry.

 

 

 

 

To post a comment, please log into your IND account. If you do not have an account, click the "register" button to create one. Facebook comments can be used as an alternative to creating an account at theIND.com.

feed-image RSS Feed
Loading
Chart
ABiz Stock Watch
o Home Bancorp 23.15 ▲0.05 (0.22%)
o Frank's International 19.53 ▼0.40 (-2.01%)
o IberiaBank Corp 67.58 ▲0.08 (0.12%)
o LHC Group 23.96 ▼0.11 (-0.46%)
o MidSouth Bancorp 18.69 ▼0.11 (-0.59%)
o Petroquest Energy 4.11 ▲0.11 (2.75%)
o PHI Inc. 41.27 ▲0.18 (0.44%)
o Superior Energy 23.38 ▼0.84 (-3.47%)
o Stone Energy 20.83 ▼0.78 (-3.61%)
o Facebook Inc. 77.62 ▲1.99 (2.63%)
o Twitter Inc. 41.13 ▲1.37 (3.45%)
o Gannett 32.74 ▲0.48 (1.49%)
NYSE:HBCP

Home Bancorp

Company ID [NYSE:HBCP] Last trade:23.15 Trade time:4:08PM EST Value change:▲0.05 (0.22%)
NYSE:FI

Frank's International

Company ID [NYSE:FI] Last trade:19.53 Trade time:4:06PM EST Value change:▼0.40 (-2.01%)
NYSE:IBKC

IberiaBank Corp

Company ID [NYSE:IBKC] Last trade:67.58 Trade time:4:08PM EST Value change:▲0.08 (0.12%)
NYSE:LHCG

LHC Group

Company ID [NYSE:LHCG] Last trade:23.96 Trade time:4:08PM EST Value change:▼0.11 (-0.46%)
NYSE:MSL

MidSouth Bancorp

Company ID [NYSE:MSL] Last trade:18.69 Trade time:4:00PM EST Value change:▼0.11 (-0.59%)
NYSE:PQ

Petroquest Energy

Company ID [NYSE:PQ] Last trade:4.11 Trade time:4:03PM EST Value change:▲0.11 (2.75%)
NYSE:PHII

PHI Inc.

Company ID [NYSE:PHII] Last trade:41.27 Trade time:2:42PM EST Value change:▲0.18 (0.44%)
NYSE:SPN

Superior Energy

Company ID [NYSE:SPN] Last trade:23.38 Trade time:4:06PM EST Value change:▼0.84 (-3.47%)
NYSE:SGY

Stone Energy

Company ID [NYSE:SGY] Last trade:20.83 Trade time:4:05PM EST Value change:▼0.78 (-3.61%)
NYSE:FB

Facebook Inc.

Company ID [NYSE:FB] Last trade:77.62 Trade time:4:08PM EST Value change:▲1.99 (2.63%)
NYSE:TWTR

Twitter Inc.

Company ID [NYSE:TWTR] Last trade:41.13 Trade time:4:01PM EST Value change:▲1.37 (3.45%)
NYSE:GCI

Gannett

Company ID [NYSE:GCI] Last trade:32.74 Trade time:4:03PM EST Value change:▲0.48 (1.49%)
Advertisement

Read the Flipping Paper!

Click Here for the Entire Print Version of
ABiz
 
Advertisement
Advertisement