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LHC Group enters equity partnership agreements in Nevada and Missouri.

LHC Group (LHCG) announced earlier the finalization of two equity partnership agreements to purchase and share ownership of home health and hospice services locations with regional health system providers in the markets of Reno, Nev., and Jefferson City, Mo. In Reno, LHC Group - in a partnership agreement with St. Mary's Regional Medical Center - is purchasing majority ownership of St. Mary's Hospice of Northern Nevada and assuming management responsibility. The facility will continue to operate under the same name at its current location. LHC Group expects annualized revenue from this joint venture of approximately $4.9M and that it will not materially affect its 2018 diluted earnings per share. In Jefferson City, LHC Group - in a partnership agreement with Capital Region Medical Center - is purchasing majority ownership of Capital Region Home Health and assuming management responsibility. The facility will continue to operate under the same name at its current location. LHC Group expects annualized revenue from this joint venture of approximately $1.6M and that it will not materially affect its 2018 diluted earnings per share. Shares of LHC Group are up 5%, or $4.52, to $90.60 in morning trading. Its peer Amedisys (AMED) is up 14% to $107.14 after its Q2 results last night topped expectations.

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Publication:The Fly
Geographic Code:1U8NV
Date:Aug 1, 2018
Words:209
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