Benzinga | May 25, 2021 04:04PM EDT

LHC Group Reports Deal To Buy Heart 'n Home Hospice In Idaho, No Terms Disclosed

LHC Group, Inc. (NASDAQ:LHCG) today announced it has agreed to purchase Heart 'n Home Hospice, headquartered in Fruitland, Idaho. The acquisition marks the company's initial entry into hospice services in the state of Oregon and expands its existing hospice footprint in Idaho.



The acquisition includes three hospice providers with a total of six locations in southwestern Idaho -- complementing the company's current operations in the northern and southeastern part of the state -- and four locations in central and eastern Oregon. The providers will continue to operate under the Heart 'n Home Hospice and Treasure Valley Hospice names.

The agreement is expected to close on July 1, 2021, subject to customary closing conditions. LHC Group expects annualized revenue from this purchase of approximately $20 million and that it will not materially affect its 2021 diluted earnings per share.

"The need for quality, compassionate hospice care is greater than ever, and Heart 'n Home Hospice has played a vital role in this region with a mission and vision that is consistent with our core values," said Keith Myers, LHC Group chairman and CEO. "LHC Group looks forward to welcoming our new family members at Heart 'n Home Hospice as we join forces to help patients and families navigate the difficult times associated with end-of-life care."

In addition to expanding LHC Group's scope of services in the two states, the acquisition aligns with the company's co-location strategy to provide multiple in-home healthcare services in certain markets, as well as its strategy of retaining and operating under a family of well-known local brands.

LHC Group operates more than 120 hospice locations around the nation. In-home, end-of-life hospice care helps patients live comfortably and with dignity. Hospice professionals provide the emotional, spiritual, and medical support needed when patients are facing the final stages of life. Hospice care can be provided in any place a patient calls home, including nursing homes and assisted living facilities.