LHC Group announces finalization of purchase agreement and joint venture partnership in New Jersey

LAFAYETTE, La., June 03, 2019 (GLOBE NEWSWIRE) -- LHC Group, Inc. (NASDAQ: LHCG) and AtlantiCare – A Member of Geisinger have finalized a previously announced joint venture (JV) agreement and purchase that includes home health and hospice services at AtlantiCare in Atlantic County, New Jersey – expanding LHC Group’s footprint within the state.

In April, LHC Group and Geisinger finalized their previously announced JV partnership for home health and hospice services at Geisinger locations in Pennsylvania. These agencies, which serve their local communities in the states of Pennsylvania and New Jersey, represent annualized revenue of approximately $35 million.

The home health and hospice service of Geisinger and AtlantiCare deliver patient-centered care for those needing 24/7 access to healthcare in the comfort of their home and for patients in need of end-of-life care.

This acquisition further supports LHC Group’s ongoing strategy to work with its JV partners to expand their service capacity and capability in key markets. Healthcare JV partnerships are a key component in helping patients manage their conditions and receive efficient and effective care.

Working together, LHC Group and its partners deliver a level of in-home healthcare service that is recognized industry-wide for consistent quality. They provide affordable care options that offer the guidance, support, and resources patients and families need to make an informed decision for themselves or a loved one.

LHC Group is a leading national provider of in-home healthcare services and the joint venture partner of choice for 350 hospitals across the United States.

About LHC Group, Inc.
LHC Group, Inc. is a national provider of in-home healthcare services and innovations, providing quality, value-based healthcare to patients primarily within the comfort and privacy of their home or place of residence. LHC Group’s services cover a wide range of healthcare needs for patients and families dealing with illness, injury, or chronic conditions. The company’s 32,000 employees deliver home health, hospice, home and community based services, and facility-based care in 35 states and the District of Columbia – reaching 60 percent of the U.S. population aged 65 and older. LHC Group is the preferred in-home healthcare partner for 350 leading hospitals around the country.

Forward-looking Statements
Certain statements and information in this press release may be deemed to contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may include, but are not limited to, statements relating to our objectives, plans and strategies, and all statements, other than statements of historical facts, that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future. These statements are often characterized by terminology such as “believe”, “hope”, “may”, “anticipate”, “should”, “intend”, “plan”, “will”, “expect”, “estimate”, “project”, “positioned”, “strategy” and similar expressions, and are based on assumptions and assessments made by LHC Group’s management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Any forward-looking statements in this press release are made as of the date hereof, and LHC Group undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Important factors that could cause actual results, developments, and business decisions to differ materially from forward-looking statements are described in LHC Group’s most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, including the sections entitled “Risk Factors”, as well LHC Group’s current reports on Form 8-K, filed with the Securities and Exchange Commission.