Feb 4, 2014 6:52 AM by AP
LAFAYETTE, La. (AP) - LHC Group Inc., a home health and hospice company in Lafayette, La., is adding 33 locations in five states with a $60 million acquisition of two subsidiaries of BioScrip Inc.
The Advocate reports LHC signed a stock purchase agreement with BioScrip, of Minnesota, to acquire subsidiaries Deaconess HomeCare and Elk Valley Health Services.
The combined service area of Deaconess, in Hattiesburg, Miss., and Elk Valley, in Nashville, Tenn., includes 121 counties for home health, 30 counties for hospice and 95 counties for community-based services spread across Mississippi, Tennessee, Kentucky, Illinois and Nebraska. Annual revenues are about $72.6 million for those operations.
The transaction is expected to be completed by the end of the first quarter and will expand LHC's geographic area to 342 locations across 27 states.