Nov. 3, 2009 (GlobeNewswire) --
LAFAYETTE, La., Nov. 3, 2009 (GLOBE NEWSWIRE) -- LHC Group, Inc. (Nasdaq:LHCG), one of the largest providers of home health services in the United States, announced today that it has entered into a home health joint venture with Twin Lakes Regional Medical Center in Leitchfield, Kentucky.
The primary service area of this joint venture spans one county in Kentucky, a Certificate of Need (CON) state. The estimated population of the service area is 26,000, with almost 15% over the age of 65. Net revenue for the Leitchfield, Kentucky agency during the most recent 12 months was approximately $640,000. This joint venture has an effective date of November 1, 2009, and is not expected to add materially to LHC Group's earnings in 2009.
Twin Lakes Regional Medical Center is a 75-bed regional healthcare facility located in Leitchfield, Kentucky. Recognized by the Kentucky health care community as one of the state's leading rural hospitals, Twin Lakes' medical staff consists of over 30 doctors representing 11 specialties.
We are excited about this new partnership with LHC Group," said Stephen L. Meredith, Chief Executive Officer of Twin Lakes Regional Medical Center. "LHC is an acknowledged leader in home health services, and our patients will benefit from the expertise they bring to our daily operations. There will be no interruption in service to our patients served by our agency. This will be a seamless transition for our patients, but one that results in improved focus and expertise for our home care services."
Keith G. Myers, President and Chief Executive Officer for LHC Group, said, "We are proud to be partnering with an organization with such an outstanding reputation and tradition of excellence as Twin Lakes Regional Medical Center. We enter this new relationship knowing we have a strong partner that shares our commitment to quality care and efficiency. Together, our organizations will provide the residents of Leitchfield, Kentucky, and the surrounding area with the highest quality of home health services. Kentucky has been a strong state for LHC Group, and we look forward to developing future hospital joint venture relationships throughout the Commonwealth of Kentucky."
LHC Group also announced today that it has completed the transaction, previously announced on October 14, 2009, to acquire the assets of Feliciana Home Health, a leading provider of home nursing services to patients in Baton Rouge and the surrounding area. Net revenue for Feliciana Home Health during the most recent 12 months was approximately $12 million. This acquisition is not expected to add materially to LHC Group's earnings in 2009.
About LHC Group, Inc.
LHC Group, Inc.