LHC Group and Twin Lakes Regional Medical Center Announce Home Health Joint Venture

Tue Nov 3, 2009 7:02am EST
 
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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. (www.LHCGroup.com) is one of the largest providers of home
health services in the United States, providing quality, cost-effective
healthcare services to patients within the comfort and privacy of their home or
place of residence. LHC Group provides a comprehensive array of post-acute
healthcare services through home health and hospice locations in its home-based
division and long-term acute care hospitals in its facility-based division.

Certain matters discussed in this press release constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995, such as statements about the Company's future financial performance and
the strength of the Company's operations. Such forward-looking statements may be
identified by words such as "continue," "expect," and similar expressions.
Forward-looking statements involve a number of risks and uncertainties that may
cause actual results to differ materially from those expressed or implied by
such forward-looking statements, including changes in reimbursement, changes in
government regulations, changes in LHC Group's relationships with referral
sources, increased competition for LHC Group's services, increased competition
for joint venture and acquisition candidates, changes in the interpretation of
government regulations, and other risks set forth in Item 1A. Risk Factors in
LHC Group's Annual Report on Form 10-K for the year ended December 31, 2008,
filed with the Securities and Exchange Commission. LHC Group undertakes no
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.

-0-
CONTACT:  LHC Group, Inc.
          Eric Elliott, Vice President of Investor Relations
          (337) 233-1307
          eric.elliott@lhcgroup.com

 

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