LHC Group To Acquire Three Rivers Home Health; Expects Annualized Revenue From Purchase Of ~$12M
Transaction expands services across 36 counties
LAFAYETTE, La., Aug. 16, 2022 /PRNewswire/ -- LHC Group (NASDAQ:LHCG) today announced an agreement to purchase Three Rivers Home Health, a provider headquartered in Eastman, Ga. The acquisition includes nine total locations – expanding LHC Group's service footprint in 36 counties in the Certificate of Need state of Georgia.
The acquisition is expected to close in the fourth quarter of 2022, subject to customary closing conditions. LHC Group expects annualized revenue from this purchase of approximately $12 million and that it will not materially affect its 2022 diluted earnings per share.
Three Rivers Home Health will continue operating under its current name and from its present locations. There will be no interruption in the care provided to patients.
Three Rivers Founder and President for the last 43 years, Kaye B. Smith, RN, said: "It is time for us to step aside and allow Three Rivers to become part of a larger organization. This transaction will make it possible for our employees to have greater opportunities and to continue providing the high-quality care they do every day."
LHC Group is a leading national provider of in-home healthcare services. In addition to expanding LHC Group's service area, this 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.
"This is a great opportunity to serve more patients and families in Georgia with the quality in-home healthcare they want and deserve," said Keith G. Myers, LHC Group's chairman and CEO. "Our new team members at Three Rivers have earned an outstanding reputation for the service they provide. Together, we will help ensure greater access to care in the patient's preferred setting – their home."