LHC Group To Acquire Deaconess HomeCare - Quick Facts

(RTTNews) - LHC Group Inc. (LHCG) Monday announced a stock purchase agreement with BioScrip, Inc. (BIOS) wherein, LHC will purchase two of Bioscrip's operating subsidiaries, doing business as Deaconess HomeCare and Elk Valley Health Services, for $60 million.

Adding 33 locations in five states, the transaction increases LHC Group's geographical footprint to 342 locations across 27 states.

"As consolidation continues to occur in our industry, we look forward to more opportunities like this to join forces with other high-quality providers who share our values and commitment to excellence, " said Keith Myers, LHC Group chairman and CEO.

The transaction is expected to close by the end of the first quarter, subject to customary closing conditions, and is anticipated to be accretive to LHC Group's 2014 earnings by between $0.05 and $0.10 per share.