LHC Group buys Maryland-based HomeCall Inc.
Home nursing company LHC said it will buy HomeCall, which has 12 locations in Maryland
October 21, 2008: 01:22 PM EST
NEW YORK (Associated Press) – Home nursing services company LHC Group Inc. said Tuesday it agreed to buy Maryland-based home nursing company HomeCall Inc. for an undisclosed amount.
Frederick, Md.-based HomeCall has 12 locations in Maryland and does business in 19 counties, LHC said. Over the last 12 months, it reported $15.6 million in revenue. The deal is expected to close in the fourth quarter, and will have little effect on LHC’s profit in 2008, LHC said.
The company reported $298 million in revenue in 2007.
LHC said it will have businesses in 15 states after the acquisition is complete. It said the 19 counties where HomeCall does business have a total population of 5.4 million, and almost 12 percent of those residents are 65 or older.
LHC shares slid 47 cents to $28.68 in afternoon trading