LHC Group and University of Maryland Medical System today announced the signing of a definitive agreement to form a new joint venture partnership to provide enhanced in-home healthcare services throughout a large portion of Maryland. The partnership’s combined assets will include multiple locations serving 20 Maryland counties, the city of Baltimore, and the greater metropolitan area. It is anticipated that the agreement will be finalized in the fourth quarter, subject to customary closing conditions, at which time LHC Group will purchase majority ownership and assume management responsibility.
LHC Group expects incremental annualized revenue from this joint venture of approximately $4.8 million and that it will not materially affect its 2022 diluted earnings per share. Read more.
