LHC Group (LHCG) Enters Joint Venture with Southeast Alabama Medical Center
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LHC Group, Inc. (NASDAQ: LHCG) announced today that it has entered into a joint venture with Southeast Alabama Medical Center to provide home nursing services, effective December 31, 2008. This joint venture includes two home nursing agencies in Dothan and Eufaula, in the Certificate of Need state of Alabama.
The primary service area of this joint venture spans 16 counties in Alabama and has an estimated population of 700,000, with almost 14 percent over the age of 65. The combined net revenue for the Dothan and Eufaula agencies during the most recent 12 months was approximately $1.4 million. This joint venture is not expected to add materially to LHC Group's earnings in 2009.
LHC Group, Inc., through its subsidiaries, provides post-acute healthcare services primarily to Medicare beneficiaries in rural markets in the United States.
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