Benzinga | Jan 5, 2021 07:09AM EST

LHC Group Says Has Finalized Acquisition Agreements Hospice Agreements In Arizona And Oklahoma

LAFAYETTE, La., Jan. 5, 2021 /PRNewswire/ -- LHC Group, Inc. (NASDAQ:LHCG) announced today that it has finalized acquisition agreements in Arizona and Oklahoma -- expanding the company's scope of services in the Phoenix-area market and representing LHC Group's initial hospice entry into the state of Oklahoma.

In Tulsa, Okla., the company has purchased Grace Hospice. The purchase agreement was first announced in November, and the company expects annualized revenue from this purchase of approximately $12.1 million.

In Mesa, Ariz., the company has expanded its reach with the purchase of East Valley Hospice and East Valley Palliative Care -- a deal that was first announced in November. This purchase aligns with LHC Group's co-location growth strategy to provide multiple in-home healthcare services in markets where there is a need and established, sensible benchmarks are met. LHC Group expects annualized revenue from this purchase of approximately $4.8 million.

These acquisitions are the latest addition to LHC Group's existing hospice footprint of more than 110 locations around the nation. In-home, end-of-life hospice care helps patients live comfortably, with dignity, when a cure is no longer possible. 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.

LHC Group is a leading national provider of in-home healthcare and hospice services and the joint venture partner of choice for almost 400 leading hospitals across the United States.