After a seven-month review of its options, Lafayette-based home health provider LHC Group Inc. said Monday the company will continue as an independent, publicly traded company.
LHC began examining all of its strategic alternatives in November. The review included moving forward with LHC’s operating plan for 2012 to 2016. Following the review, the company’s board of directors voted unanimously to continue with the operating plan, which includes buying back up to $50 million worth of stock. The buyback program does not require the company to buy back any stock.
LHC Chairman and Chief Executive Officer Keith G. Myers said in a news release that the review affirmed his belief in the long-term value of the company and its proven business model. A key piece of LHC’s growth strategy involves partnering with hospitals to expand the company’s service area.
LHC Group is a national provider of home nursing care and has more than 300 locations in 19 states.