Business News

LHC Group acquires 2 companies with $44 million in revenue

by The Associated Press

LHC Group President/CEO Keith Myers

Lafayette-based home health and hospice firm LHC Group is acquiring companies in Virginia and Arkansas in deals expected to add 15 cents to 25 cents per share to 2017 profits.

LHC said in news release it was acquiring Professional Healthcare Resources, based in Annandale, Va., which serves 16 counties in the District of Columbia, Maryland and Virginia. The company generates annual revenue of around $33.5 million.

LHC Chairman Keith G. Myers said the company is also acquiring East Arkansas Health Holdings, based in Little Rock, Ark. It serves 11 counties and has annual revenue of roughly $10.5 million.

Terms of the acquisitions were not disclosed.

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.