Key Developments: LHC Group Inc (LHCG.OQ)
21.98USD
20 May 2013
$-0.58 (-2.57%)
$22.56
$22.42
$22.42
$21.74
10,716
16,383
$24.03
$15.70
Latest Key Developments (Source: Significant Developments)
LHC Group Inc Reaffirms FY 2013 Guidance
LHC Group Inc reaffirmed its fiscal 2013 guidance issued on March 6, 2013, for net service revenue of $660 million to $680 million and fully diluted earnings per share in the range of $1.10 to $1.30. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $673 million and EPS of $1.25 for fiscal 2013. Full Article
LHC Group Inc Acquires Infirmary Hospice Care In Alabama
LHC Group Inc announced that it has acquired the assets of Infirmary Hospice Care in the State of Alabama, which is a Certificate of Need (CON) State for hospice services. The acquired hospice agency, located in Mobile, Alabama, will continue to operate under the name Infirmary Hospice Care through the remainder of 2013 and serve Mobile and Baldwin counties. Terms of acquisition were not disclosed. Full Article
Addus HomeCare Corp Announces Completion Of Sale of Home Health Assets to LHC Group, Inc's Subsidiaries
Addus HomeCare Corp announced that effective March 1, 2013, the Company completed the sale to subsidiaries of LHC Group, Inc. of substantially all of the assets used in the Company's Home Health business in Arkansas, Nevada and South Carolina, and 90% of the Home Health business in California and Illinois with the Company retaining a 10% ownership interest in those locations. The purchase price of the assets totaled approximately $20 million in cash. The net proceeds from the transaction are being used to pay off outstanding debt and for general corporate purposes. Full Article
LHC Group Inc Issues FY 2013 Mixed Guidance
LHC Group Inc announced that for fiscal 2013, it expects net service revenue to be in the range of $660 million to $680 million, and fully diluted earnings per share (EPS) to be in the range of $1.10 to $1.30. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $658 million and EPS of $1.51 for fiscal 2013. Full Article
LHC Group Inc Signs Definitive Agreement To Acquire Home Health Business From Addus HomeCare
LHC Group Inc announced that it has entered into a definitive agreement to acquire the home health service line of Addus HomeCare Corp. The transaction is expected to close on or about February 28, 2013. The acquisition will encompass 19 home health agencies and two hospice agencies in five states. When the transaction is complete, LHC Group, a national provider of post-acute care, will operate more than 300 locations in 23 states nationwide. Purchase price for the transaction is $20 million. Full Article
LHC Group Inc Announces Completion Of SEC Investigation
LHC Group Inc announced that it has been advised by the Securities and Exchange Commission (SEC) that the commission's investigation into the Company's participation in the Medicare Home Health Prospective Payment System has been completed and that the SEC staff does not intend to recommend any enforcement action by the commission. Full Article
LHC Group Inc Narrows FY 2012 Revenue Guidance To A Range In Line With Analysts' Estimates; Lowers High End Of Prior FY 2012 EPS Guidance To A Range In Line With Analysts' Estimates
LHC Group Inc announced that the Company is adjusting its fiscal 2012 guidance issued January 4, 2012, for net service revenue of $640 million to $660 million and fully diluted earnings per share (EPS) in the range of $1.45 to $1.65 to net service revenue of $635 million to $645 million and fully diluted earnings per share in the range of $1.45 to $1.55. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $639 million and EPS of $1.54 for fiscal 2012. Full Article
LHC Group, Inc. Reaffirms FY 2012 Guidance
LHC Group, Inc. announced that for fiscal 2012, it is reaffirming its net service revenue of $640-$660 million and fully diluted earnings per share in the range of $1.45 to $1.65. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $646 million and EPS of $1.63 for fiscal 2012. Full Article
Levi & Korsinsky Notifies Investors With Losses on Investment in LHC Group, Inc. of Class Action Lawsuit
Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the Western District of Louisiana on behalf of investors who purchased LHC Group, Inc. (LHC or the Company) securities between July 30, 2008 and October 26, 2011. The complaint alleges that Defendants issued materially false and misleading statements regarding the Company's business and engaged in a pattern of practice designed to achieve the most profitable number of therapy visits under the Medicare home health program by manipulating the number of patient visits--regardless of patient need--to maximize revenue. On October 3, 2011, the Senate Finance Committee released a report indicating that LHC engaged in practices that at best represent abuses of the Medicare home program and [a]t worst, they may be examples of for-profit companies defrauding the Medicare home health program at the expense of taxpayers. On October 26, 2011, LHC lowered its earnings forecast, in part because of a payment to the federal government to settle an inquiry into whether LHC improperly billed for home health services that were medically unnecessary. Upon this news, LHC's stock price fell 15%. Full Article
Brower Piven Announces Class Action Lawsuit Against LHC Group, Inc.
Brower Piven, A Professional Corporation announced that a class action lawsuit has been commenced in the United States District Court for the Western District of Louisiana on behalf of purchasers of the common stock of LHC Group, Inc. (LHC or the Company) (NasdaqGS: LHCG) during the period between July 30, 2008 and October 26, 2011, inclusive (the Class Period). No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than August 13, 2012 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company`s failure to disclose during the Class Period that the reported growth in LHC's home-based healthcare segment was created, in large part, by engaging in a pattern of practice designed to achieve the most profitable number of therapy visits under the Medicare home health program, including through manipulating the number of patient visits, regardless of patient need, to maximize revenue. Full Article
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