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LHC Group (LHCG) Forays Into Tucson Market With New Buyout
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LHC Group, Inc. recently agreed to acquire two Casa de la Luz provider locations in Tucson, AZ. The transaction is anticipated to get completed on Jul 1, 2021, subject to certain customary closing conditions. Notably, this buyout is likely to expand LHC Group’s scope of services in the Tuscon market.
It is worth mentioning here that LHC Group operates more than 120 hospice locations throughout the nation.
This transaction is likely to provide a substantial boost to the company’s hospice business line.
More on the News
The buyout will enable LHC Group to continue with its co-location growth strategy to offer several in-home healthcare services in certain markets.
Moreover, the buyout will give the company an excellent opportunity to continue the Casa legacy by providing improved and necessary hospice services for patients and families in the Tucson region.
Notably, LHC Group projects annualized revenues of around $23 million from this buyout, while also noting that it will not materially impact its 2021 earnings per share. The provider will continue to function under the Casa de la Luz name.
Recent Development
Per the first-quarter 2021 earnings release, LHC Group's acquisition pipeline stands at above $502 million with over $300 million of the targets in exclusive discussions, thereby indicating the company’s confidence in achieving or exceeding its target of $150 million to $200 million in acquired revenues in 2021.
Price Performance
Shares of the Zacks Rank #2 (Buy) company have gained 17.6% in a year’s time, compared with the industry’s growth of 5.9%.
HCA Healthcare’s long-term earnings growth rate is expected at 12.3%.
DaVita’s long-term earnings growth rate is estimated at 14.4%.
Amedisys’ long-term earnings growth rate is estimated at 12%.
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LHC Group (LHCG) Forays Into Tucson Market With New Buyout
LHC Group, Inc. recently agreed to acquire two Casa de la Luz provider locations in Tucson, AZ. The transaction is anticipated to get completed on Jul 1, 2021, subject to certain customary closing conditions. Notably, this buyout is likely to expand LHC Group’s scope of services in the Tuscon market.
It is worth mentioning here that LHC Group operates more than 120 hospice locations throughout the nation.
This transaction is likely to provide a substantial boost to the company’s hospice business line.
More on the News
The buyout will enable LHC Group to continue with its co-location growth strategy to offer several in-home healthcare services in certain markets.
Moreover, the buyout will give the company an excellent opportunity to continue the Casa legacy by providing improved and necessary hospice services for patients and families in the Tucson region.
Notably, LHC Group projects annualized revenues of around $23 million from this buyout, while also noting that it will not materially impact its 2021 earnings per share. The provider will continue to function under the Casa de la Luz name.
Recent Development
Per the first-quarter 2021 earnings release, LHC Group's acquisition pipeline stands at above $502 million with over $300 million of the targets in exclusive discussions, thereby indicating the company’s confidence in achieving or exceeding its target of $150 million to $200 million in acquired revenues in 2021.
Price Performance
Shares of the Zacks Rank #2 (Buy) company have gained 17.6% in a year’s time, compared with the industry’s growth of 5.9%.
Other Key Picks
Some other top-ranked stocks from the broader medical space are HCA Healthcare, Inc. (HCA - Free Report) , DaVita Inc. (DVA - Free Report) and Amedisys, Inc. (AMED - Free Report) , each currently carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
HCA Healthcare’s long-term earnings growth rate is expected at 12.3%.
DaVita’s long-term earnings growth rate is estimated at 14.4%.
Amedisys’ long-term earnings growth rate is estimated at 12%.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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