LHC To Buy Two BioScip Units For $60 Mln - Quick Facts

(RTTNews) - LHC Group Inc. (LHCG), a provider of home health, hospice and comprehensive post-acute healthcare services, said it signed a definitive stock purchase agreement with BioScip, Inc. (BIOS) to purchase two of its operating subsidiaries for $60 million.

The units do business as Deaconess HomeCare and Elk Valley Health Services.

The transaction will add 33 locations in five states, increasing LHC Group's geographical footprint to 342 locations across 27 states.

The deal is expected to close by the end of the first quarter of 2014. It is expected to be accretive to LHC Group's 2014 earnings by between $0.05 and $0.10 per share.

BioScrip announced separately its proposal to commence an offering through a private placement of $200 million in aggregate principal amount of senior notes due 2021.

The notes will be senior unsecured obligations of BioScrip and will be guaranteed by certain of BioScrip's subsidiaries.

BioScrip intends to use the net proceeds of the offering to pay a portion of the amounts outstanding on its $75 million senior secured first-lien revolving credit facility, its $150 million senior secured first-lien delayed draw term B loan and its $250 million senior secured first-lien term loan B.