Post-acute provider LHC Group, Lafayette, La., filed a registration statement with the Securities and Exchange Commission for an initial public offering worth up to $60 million. The 10-year-old company said it will conduct the offering as soon as "practicable." LHC operates 64 home-care nursing agencies, which generate about 70% of its revenue; six long-term acute-care hospitals within general hospitals; one inpatient rehabilitation facility that it plans to turn into a long-term acute-care hospital; four outpatient clinics; and four hospices. Its facilities are located in primarily rural areas in Arkansas, Louisiana, Mississippi and Texas. According to the registration statement, LHC earned net income of $6.7 million, or 83 cents per share, on revenue of $88.7 million in the first nine months of 2004. In the year-ago period, the company earned net income of $2.4 million, or 30 cents per share, on revenue of $53.2 million. -- by Joseph Mantone
Post-acute chain plans up to $60 million IPO
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