LHC Group, Inc. (Nasdaq:LHCG), one of the largest providers of home health services in the United States, announced that on April 1, 2010, it completed its previously announced acquisition of 100% of the assets of Salem Hospital Home Care located in Salem, Oregon.
The primary service area of this acquisition spans six counties in Oregon. The estimated population of the service area is 1 million, with almost 12% over the age of 65. Net revenue for the Salem, Oregon agency during the most recent 12 months was approximately $5.5 million. This acquisition is not expected to add materially to LHC Group's earnings in 2010.
"Salem Health conducted extensive reviews of the quality of care and customer service provided by potential buyers of our home care service," said Cheryl Nester Wolfe, chief nursing officer and a senior vice president of operations for Salem Health. "LHC Group has provided high-quality care for its patients in other areas of the country, which was a primary consideration in making this agreement."
Keith G. Myers, chief executive officer of LHC Group, said, "It is with great pleasure that I welcome the employees from Salem Hospital Home Care into our growing LHC Group family. We are proud to be part of Salem, Oregon, and the surrounding communities. As always, our commitment is to help people in these communities by providing the highest quality home health services available to the patients and families in these areas."
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