The Lafayette-based home nursing firm will buy 14 home health agencies from a Tennessee company for $10 million in cash.
LAFAYETTE, La. (AP) - Lafayette-based home nursing firm LHC Group will buy 14 home health agencies from a Tennessee company for $10 million in cash.
Life Care Home Health Inc.'s agencies are spread across seven states. LHC said the deal will increase its footprint to 352 locations across 30 states. LHC expects to close the acquisition on Sept. 1, and that the deal will increase earnings in 2015.
The Life Care agencies are in Arizona, Colorado, Massachusetts, Rhode Island, Tennessee, Utah and Washington. The home health agencies produced revenues of approximately $28.5 million in 2013 and for the 12 months ended in May.