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News Breaks | | | | February 7, 2013 | | 07:04 EDT |  | LHC, ADUS | LHC Group acquires home health business from Addus HomeCare for $20M
LHC Group (LHCG) has entered into a definitive agreement to acquire the home health service line of Addus HomeCare (ADUS). The transaction is expected to close on or about February 28. The acquisition will encompass 19 home health agencies and two hospice agencies in five states. Specifically, LHC Group will acquire 100 percent of the assets of three home health agencies in Arkansas, one home health agency and two hospice agencies in South Carolina and one home health agency in Nevada. The company will acquire 90% of the assets of eight home health agencies in Illinois and six in California, with Addus retaining a 10% ownership interest in those locations. Both Arkansas and South Carolina are certificate of need states. The estimated 65 and older population in the acquired service area totals 2.6M. Annual revenue is approximately $36.7M. The purchase price for the transaction is $20M. | |
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