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News Breaks
February 28, 2013
12:03 EDTLHCG, ADUSLHC Group acquires home health business from Addus HomeCare
LHC Group (LHCG) has completed the previously announced acquisition of the home health service line of Addus HomeCare (ADUS). The closing will be effective at 12:01 a.m. on March 1. All conditions to closing have been satisfied. The acquisition encompasses 19 home health agencies and two hospice agencies in five states. LHC Group acquired 100% 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 also acquired 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. The estimated 65 and older population in the acquired service area totals 2.6M. Annual revenue is approximately $36.7M. Purchase price for the transaction was $20M.
News For LHCG;ADUS From The Last 14 Days
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April 30, 2015
16:13 EDTADUSAddus HomeCare hires Don Klink as CFO
Mark Heaney, president and CEO of Addus HomeCare, stated, "After a thorough search process, I am pleased to announce that Don Klink will be joining Addus as CFO effective May 11." From October 2013 through April 2015, he provided various senior financial consulting services, including assignments through Tatum US, a management consulting firm.
16:12 EDTADUSAddus HomeCare announces purchase agreement in New York market
Mark Heaney, president and CEO of Addus HomeCare, stated, "We are pleased to report solid first quarter financial results and a new purchase agreement for an acquisition that, once consummated, will provide Addus entry into the large managed care market in New York. Our financial results were driven by continued double-digit growth in our average billable census, which increased 11.9% for the quarter. This growth was the primary contributor to a 6.9% increase in same store revenue. We continued to produce good organic growth during the quarter with our traditional payers. Although the operational complexities involved in the transition of dual eligibles to MCOs again slowed the pace of referrals in Illinois, MCO revenue rose to 18.3% of total Addus revenue, from 15.4% for 4Q14 and 4.4% for the first quarter last year."
16:10 EDTADUSAddus HomeCare reports Q1 adjusted EPS 24c, consensus 24c
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April 27, 2015
14:32 EDTADUSAddus HealthCare agrees to acquire South Shore, Acaring for $18M
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07:10 EDTLHCGBioScrip appoints Jeffrey Kreger as CFO
BioScrip (BIOS) announced that Jeffrey M. Kreger will join the Company as Senior Vice President, CFO and Treasurer, effective April 27. Kreger joins BioScrip with over 25 years of experience in financial and executive leadership roles. He most recently served as Senior Vice President of Finance with LHC Group (LHCG), a NASDAQ-listed post-acute healthcare services company. In that role, he led a staff of over 300 personnel spanning all aspects of finance, accounting, treasury and information technology functions. He was instrumental in the development and execution of LHC's five-year strategic plan, led all corporate financing activities, and was actively involved in corporate development, overseeing the valuation, purchase, and integration of four large acquisitions in less than 19 months. Prior to joining LHC Group in 2013, Kreger served as Senior Vice President and Corporate Controller at Sun Healthcare Group, a NASDAQ-listed post-acute care company with over 200 health care centers across 46 states and annual revenues in 2011 exceeding $1.9B.

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