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LHC Group buys Halcyon for $59M in cash

Sep. 03, 2015 8:00 AM ETUnitedHealth Group Incorporated (UNH) StockUNHBy: Douglas W. House, SA News Editor
  • LHC Group (NASDAQ:LHCG) acquires Halcyon Hospice LLC for $58.5M in cash. The deal will enable LHC to save $7M in net present value taxes over the next 15 years. It will be dilutive by $0.06 to Q4 earnings, but accretive by $0.15 - 0.20 in 2016. The transaction should close by October 1.
  • Halcyon, with ~400 employees, operates 16 hospices across three states. Annual revenues are ~$41M.
  • LHC's post-deal hospice business will consist of 53 sites in 12 states with over $110M in annual revenues.
  • The company is raising its guidance for 2015 net service revenue to $800M - 815M from $780M - 795M and reaffirms its EPS forecast of $1.70 - 1.80.

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