Home care provider LHC Group (Nasdaq: LHCG) has agreed to purchase the assets of AseraCare Home Health comprising four home health agencies.
The transaction will expand LHC Group’s footprint to 310 locations across 26 states, the company announced Thursday, including four new major markets for the company.
“It is with great pleasure that I welcome AseraCare’s home health patients and employees into our LHC Group family,” said Keith Myers, LHC Group’s chairman and CEO. “We are proud to be part of these communities and look forward to partnering with local clinicians to deliver high-quality health care that allows patients to safely remain in the comfort of their homes.”
The acquisition includes home health agencies based in Atlanta.; Bloomington, Minn.; Milwaukee.; Pittsburgh, which generate annual revenue of approximately $5 million, according to LHC Group.
The purchase agreement is expected to close June 28, subject to closing conditions. The purchase price has not been disclosed.
Written by Elizabeth Ecker