Lafayette-based home nursing firm LHC Group will acquire companies in Virginia and Arkansas in deals expected to add between 15 cents and 25 cents per share to 2017 profits.
Purchase prices were not disclosed. The deals aren’t expected to affect LHC’s 2016 earnings, other than transaction costs.
Professional Healthcare Resources, based in Annandale, Virginia, serves 16 counties in the District of Columbia, Maryland and Virginia. The company generates annual revenue of about $33.5 million.
East Arkansas Health Holdings, based in Little Rock, Arkansas, serves 11 counties and has annual revenue of roughly $10.5 million.
LHC Chairman and Chief Executive Officer Keith G. Myers said the acquisitions strengthen LHC’s market position, broaden its referral base and expand its services.
“They also reflect our robust pipeline of potential transactions,” Myers said in a news release. “Thus far in 2016, we have announced transactions generating annualized revenue of $60 million, putting us on pace to exceed our record year of 2014, which had nine announced transactions with annualized revenue totaling $105.5 million.”
As of March 31, LHC Group had 284 home health services locations, 61 hospice locations, 11 community-based service locations and six long-term, acute-care hospitals with eight locations.
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