LAFAYETTE, La., April 2, 2013 (GLOBE NEWSWIRE) -- LHC Group Inc. (Nasdaq:LHCG) has acquired the assets of Infirmary Hospice Care in the State of Alabama, which is a Certificate of Need (CON) State for hospice services. The acquired hospice agency, located in Mobile, Alabama, will continue to operate under the name Infirmary Hospice Care through the remainder of 2013 and serve Mobile and Baldwin counties. Current annual revenue for this agency is approximately $2.5 million.
This hospice acquisition continues LHC Group's strategy of acquiring hospice providers located within the Company's current home health markets. LHC Group currently owns 34 hospice locations across 10 states.
About LHC Group Inc.
LHC Group Inc. is a national provider of post-acute care, providing quality, cost-effective health care to patients within the comfort and privacy of their home or place of residence. LHC Group provides a comprehensive array of post-acute healthcare services through home health, hospice and private duty locations in its home-based division and long-term acute care hospitals in its facility-based division.
Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements about the Company's future financial performance and the strength of the Company's operations. Such forward-looking statements may be identified by words such as "continue," "expect," and similar expressions. Forward-looking statements involve a number of risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such forward-looking statements, including changes in reimbursement, changes in government regulations, changes in LHC Group's relationships with referral sources, increased competition for LHC Group's services, increased competition for joint venture and acquisition candidates, changes in the interpretation of government regulations, and other risks set forth in Item 1A. Risk Factors in LHC Group's Annual Report on Form 10-K for the year ended December 31, 2012, filed with the Securities and Exchange Commission. LHC Group undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.