LHC Group (LHCG) Agrees to Acquire 100% of Northwest Healthcare Alliance
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LHC Group, Inc. (NASDAQ: LHCG) announced today that it has entered into a definitive Stock Purchase Agreement to acquire 100% of the outstanding capital stock of Northwest Healthcare Alliance, Inc. Northwest Healthcare Alliance, Inc., which operates under the name Assured Home Health and Hospice, is headquartered in Centralia, Washington, and includes four home health locations and five hospice locations. This transaction expands LHC Group's geographic footprint to 17 states and is expected to close on December 31, 2008.
Northwest Healthcare Alliance, Inc. had net revenue for the most recent 12 months of approximately $10.2 million. This acquisition is anticipated to add approximately $0.02 to LHC Group's fully diluted EPS in 2009. The impact of this transaction is not included in the 2009 guidance released by LHC Group on December 2, 2008.
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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