LHC Group (LHCG) Announces Joint Venture with Ochsner Health System

January 8, 2009 5:27 PM EST

LHC Group, Inc. (NASDAQ: LHCG) and New Orleans-based Ochsner Health System, announced a definitive agreement to enter into a joint home health venture in southeast Louisiana.

The joint venture includes an LHC Group purchase of 75% of two home health agencies, currently owned by Ochsner, in Kenner and Raceland, Louisiana, and an Ochsner purchase of 25% of three home health agencies, currently owned by LHC Group, in Houma, Lutcher and Hammond, Louisiana. The transaction is expected to close on February 1, 2009.

Headquartered in Lafayette, Louisiana, LHC Group operates 211 home nursing locations in 17 states. [SM]

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