Waller Lansden Dortch & Davis and Debevoise & Plimpton advised HCA Healthcare on the deal. SVB Leerink is serving as financial advisor and Alston & Bird LLP is serving as legal counsel to LHC Group.
LHC Group, Inc. (NASDAQ: LHCG) announced significant expansions of its nationwide footprint, resources, and service capabilities. The company has entered into an agreement to purchase Brookdale Health Care Services agencies from the recently formed home health, hospice and outpatient therapy venture between HCA Healthcare and Brookdale Senior Living Inc. The agencies, which are not in areas served by HCA Healthcare, include 23 home health locations, 11 hospice, and 13 therapy agencies across 22 states. The agencies will continue to operate under their existing brands and locations.
LHC Group expects annualized revenue from this purchase of approximately $146 million and, due to the expected timing of the closing, that it will not materially affect its 2021 diluted earnings per share. It is anticipated that the purchase will be finalized in the fourth quarter of 2021, subject to customary closing conditions.
The Waller team included Tyler Gilbert and Kevin Page (Picture).
The Debevoise team was led by M&A partner Jennifer Chu and included associates David Becker, Marisa Demko, Dane Dixon, Margaret Howard and TC Huang and benefits partner Simone Hicks and associate Zain Kazmi.
Involved fees earner: David Becker – Debevoise & Plimpton; Jennifer Chu – Debevoise & Plimpton; Marisa Demko – Debevoise & Plimpton; Dane Dixon – Debevoise & Plimpton; Simone Hicks – Debevoise & Plimpton; Margaret Howard – Debevoise & Plimpton; Tiancheng Huang – Debevoise & Plimpton; Zain Kazmi – Debevoise & Plimpton; Tyler Gilbert – Waller Lansden Dortch & Davis LLP; Kevin Page – Waller Lansden Dortch & Davis LLP;
Clients: HCA Healthcare Inc;