In just over two weeks home health giant LHC Group has spent $135 million on three hospice acquisitions, but its recent shopping habit is far from over.
During a virtual investor conference Thursday, LHC Group President Joshua Proffitt said the LaFayette, LA-based firm was aiming for other acquisitions.
“We’re weighted heavily in hospice today. We’re announcing and will be closing on a lot of hospice assets, but we’re definitely not out of looking at home health opportunities and looking at joint ventures as well,” Proffitt said.
Earlier this week, LHC Group announced it would buy Charleston, SC-based Heart of Hospice, which owns 16 hospice agencies in six Southern states. Last week, the company announced the acquisition of Fruitland, ID-based Heart n’ Home Hospice, and two weeks ago LHC Group announced it was acquiring two hospice locations from Casa de la Luc in Tucson, AZ.
When the company announced first quarter earnings last month, it said it was still on target to spend up to $200 million this year on acquisitions.
LHC Group Chairman and CEO Keith Myers also said the company was contemplating a possible spin-off of Imperium Health Management, an accountable care organization, that was included in the acquisition of home health firm Almost Family in 2018.
LHC Group has roughly 30,000 employees and offers home healthcare, hospice and home-and-community-based services in 35 states and the District of Columbia.
This article originally appeared on McKnight's Senior Living
