LHC Group Inc., a Lafayette-based home health and hospice care provider, has completed a previously announced $59.5 million deal to add 32 agencies in Mississippi, Tennessee, Kentucky and Illinois.
The acquisition of Deaconess HomeCare and Elk Valley Health Services boosts LHC to 340 agencies in 26 states. LHC expects the new properties to increase earnings by 5 cents to 10 cents per share.
The new agencies have annual revenue of around $72 million.
Keith Myers, LHC Group chairman and chief executive officer, said continued consolidation in the home health and hospice industry will create more opportunities for acquisitions.