The merger of Almost Family and LHC Group would create the second-largest home health company. Photo: Tony Dejak / AP
LHC Group and Almost Family have agreed to merge, which would create the second-largest home health company in the country with $1.8 billion of annual revenue. The deal values Almost Family at about $60 per share.
The big picture: The health care system wants to treat more patients at home instead of a hospital or nursing home in part because it is less expensive (home health workers are among the lowest-paying jobs in health care).
Go deeper: The home health industry recently lobbied its way to a big Medicare policy win, and now it will have to fend off possible cuts from Congress' Medicare extenders package.