Louisiana company purchases Branson hospice provider

A Louisiana-based home health services company has purchased a Branson hospice provider.

LHC Group Inc. (Nasdaq: LHCG) said Monday that it purchased 100 percent of the assets of Branson-based Access Hospice Care. Terms of the transaction were not disclosed.

Access Hospice serves 13 counties in southwest Missouri and posted net revenues of $1 million in 2009, according to an LHC news release. LHC purchased the home health segment of Access in 2008.

"It is with great pleasure that I welcome the employees from Access Hospice Care into our growing LHC Group family," LHC President and CEO Keith Myers said in the release. "This acquisition is a natural fit for LHC Group and allows us to increase our services to patients and families in southwest Missouri."

LHC Group provides at-home health and hospice services through its home-based division and services to long-term acute care hospitals through its facility-based division. The company offers services in 19 states and posted net service revenues of $389 million through the first nine months of 2009.

Shares of LHC Group closed Dec. 31 at $33.61, compared to a 52-week range of $16.56 to $35.94. Shares were up to $34.40 as of 10:00 a.m. Monday.