Edge Healthcare Partners is pleased to announce that Halcyon Hospice, LLC (“Halcyon”), one of the largest independent providers of hospice services in the southeastern United States, has completed its previously announced sale to LHC Group, Inc. (NASDAQ: LHCG) (“LHC Group”) on October 2, 2015. Under the terms of the agreement, LHC Group acquired Halcyon for $58.5 million in cash. Edge Healthcare Partners originated the transaction and served as the exclusive financial advisor to Halcyon.
“We were honored to represent Halcyon, its shareholders and management in this transaction. Halcyon’s focus on quality patient care will continue to drive its growth through the combination with LHC,” said Todd Watkins, Partner of Edge Healthcare Partners. “This transaction is an example of the strong strategic interest we have continued to see in transactions along the post-acute continuum.”
Halcyon was founded in 2010 by Dan Kohl and Jack Draughon with a private equity partner. Based in Cumming, Georgia, Halcyon is one of the largest independent providers of hospice services in the southeastern United States. It operates 16 hospice locations across three states, including two inpatient hospice facilities, and has approximately 400 employees. Its service area covers 183 counties across Georgia, Mississippi and South Carolina. For more information, visit the Halcyon website, www.excellenceinhospice.com.
About LHC Group
LHC Group is a national provider of post-acute care services, providing quality, cost-effective health care to patients within the comfort and privacy of their home or place of residence. LHC Group provides a comprehensive array of healthcare services through home health, hospice and community-based services locations in its home-based division and long-term acute care hospitals in its facility-based division. For more information, visit the LHC Group website at www.lhcgroup.com.
About Edge Healthcare Partners
Edge Healthcare Partners is an independent Atlanta based investment banking firm focused on providing merger and acquisition services to leading private and public healthcare companies and private equity firms. Edge Healthcare Partners also assists companies with raising capital for growth, acquisitions, recapitalizations, going-private and management buy-out transactions The professionals of Edge Healthcare Partners have over 65 years of collective investment banking experience and have completed more than 100 transactions across the entire spectrum of healthcare including healthcare services, healthcare information technology, distribution and life sciences. Securities are offered through Edge Corporate Finance, Member FINRA and SIPC. For more information, visit https://www.edgehcp.com/.