UnitedHealth Group closed the multimillion-dollar deal to acquire home health and hospice company LHC Group Feb. 22, according to an SEC filing.
Four details:
1. LHC Group has 29,000 employees in 37 states that will join UnitedHealth Group's Optum as part of the acquisition. The company has more than 950 locations across the U.S. and reports around 12 million patient encounters annually.
2. UnitedHealth Group agreed to pay around $5.4 billion for LHC Group, which logged nearly $62 million in net income through the three-months end of 2022, down from $122 million the year prior. LHC Group's net service revenue hit $576.9 million in the third quarter last year.
3. The acquisition adds to Optum's value-based care services and extends its reach for hospice and home care. Optum already serves more than 130 million patients and Optum Care has 2,000 locations nationwide.
4. SCA Health is part of Optum's network as well, boasting more than 320 surgical facilities and 11,300 teammates.