LHC Group Inc. finalized joint venture purchase and expansion agreements with its partners for certain healthcare services providers in Texas, Arkansas and Louisiana, effective Jan. 1.
The transactions represent annualized revenue of about $23.8 million, according to a Jan. 6 news release.
LHC Group said DFW Home Health — which is jointly owned by LHC, Texas Health Resources and North Texas Health Facilities Management Inc., a unit of Methodist Health System — completed the acquisition of a home health provider in Arlington, Texas. LHC and the companies have been in partnership since 2012.
The acquired entity will change its name to DFW Home Health Arlington. LHC, which provides in-home healthcare services, expects about $2.4 million in annual revenue from the transaction.
LHC added that company and its JV partner LifePoint Health Inc., since 2017, finalized a purchase agreement for two Arkansas facilities, a home health provider and a hospice provider that are based in Bryant, Ark., and are associated with LifePoint's Saline Memorial Hospital.
The facilities will operate under the names Saline Memorial Home Health and Saline Memorial Hospice, respectively. LHC expects about $5.4 million in annualized revenue from the transaction.
In addition, LHC and Ochsner Health System acquired five Egan Home Health and Hospice provider locations across south Louisiana as part of their existing JV called Southeast Louisiana HomeCare. Ochsner and LHC Group have been partners in home health services since 2009.
LHC Group expects the purchase will result in annual revenues of about $16 million.