LHC Group, LifePoint Health announce further expansion of JV
LHC Group and LifePoint Health announced a further expansion of their joint venture, or JV, partnership with an agreement to add two additional locations - a home health provider and a hospice provider - in Bryant, Ark., that are associated with LifePoint's Saline Memorial Hospital. It is anticipated that this agreement will be finalized on Jan. 1, 2020, subject to customary closing conditions. LHC Group expects approximately $5.4 million in annualized revenue from this transaction. The partnership also announced that it has finalized previously announced additions of CMH Home Health Care (Wilmington, Ohio), Casa de la Paz Hospice (Sierra Vista, Ariz.), and St. Joseph Family Hospice (Lewiston, Idaho). With the transaction completed, LHC Group has assumed management responsibility of the agencies, which will continue to operate from their current locations and under the same names. Once the transaction announced today is finalized, LHC Group expects approximately $9 million in annualized revenue from these additions to the joint venture and anticipates that it will not materially affect its 2019 diluted EPS.