Life Care Centers of America doubles-down on facility-based care, sells home health business for $10 million
Life Care Centers of America is shedding its related home health business in a $10 million sale to LHC Group Inc., the company announced.
Tennessee-based Life Care Centers will “pursue a primary strategic focus on our core facilities-based operations,” Forrest L. Preston, the company's chairman and chief executive officer, explained in a prepared statement. The provider is not commenting further on the deal at this time, a spokeswoman told McKnight's.
The move comes as Kindred Healthcare, another prominent long-term care player, has been persistently pursuing a hostile takeover of home health company Gentiva. Many observers believe other companies will pursue similar strategies to diversify their services, given an increasing focus on care coordination across the continuum.
Life Care Home Health Inc. includes 14 home health agencies in seven states. The acquisition will expand LHC Group to more than 350 locations in 30 states, the company announced Tuesday. LHC Group offers home health, hospice and post-acute services.
The deal is expected to close in September.