LHC Group broadened its national footprint Wednesday, inking a deal to buy Brookdale Health Care Services agencies from the recently formed home health, hospice and therapy venture between HCA Healthcare and Brookdale Senior Living Inc. The purchase price was not disclosed, but LHC Group expects it will earn $146 million annually from the deal.
The deal includes 23 home health locations, 11 hospice and 13 therapy agencies across 22 states. The agencies will continue operating under their existing brands. LHC Group
“In short, this agreement creates an abundance of opportunity for LHC Group to positively impact more lives through the delivery of quality healthcare in cooperation with our new colleagues from Brookdale Health Care Services,” Keith Myers, LHC Group Chairman and CEO, said in a statement. “As such, we will be able to serve more people in the comfort of their home or place of residence. LHC Group also looks forward to working with Brookdale Senior Living’s 226 senior living communities in these territories.”
HCA Healthcare purchased a majority stake in Brookdale Health Care Services in July to expand services to its clients.
“We believe the sale to LHC Group of these sites of care, which were part of that transaction and are not in communities we currently serve, positions them for continued success,” Sam Hazen, CEO of HCA Healthcare, said.
Lafayette, LA-based LHC Group has been on a buying binge this year, acquiring home health and hospice businesses in Virginia, Indiana, Arkansas, Texas, Arizona and Oregon.
