Alston & Bird client LHC Group (Nasdaq: LHCG), a leading national provider of in-home health care services, has announced the sale of its outstanding common stock to Optum Health, a diversified health services company, for approximately $5.4 billion.
The transaction is anticipated to close in the latter half of 2022, pending the receipt of shareholder approvals, regulatory approvals, and satisfaction of other customary closing conditions.
Founded in 1994, LHC Group is headquartered in Lafayette, LA, and has 30,000 employees operating in 37 states and the District of Columbia. Its values-driven in-home health care services meet a wide range of needs for patients and families facing injury, illness, chronic conditions, and hospice care. The company partners with 435 leading hospitals around the country and reaches 60 percent of the U.S. population aged 65 and older.
Representing LHC Group in the transaction is an Alston & Bird team led by partners J. Mark Ray and Dawnmarie Matlock, senior associate Daniel Nisenson, and associate Amy Pleasance (Corporate Health Care Transactions); partner Kyle Healy and senior associates Elaine Tapp and Matt Strumph (Corporate & Business Transactions); partners John Snyder and Adam Biegel (Antitrust); and partners Blake MacKay and John Shannon (Employee Benefits & Executive Compensation).