Life Care Centers of America, headquartered in Cleveland, Tenn.Life Care sells home health unit
The Cleveland-based Life Care Home Health, the sister company of Life Care Centers of America, has completed its previously announced sale of its 13 home health care agencies for $10 million. LHC Group Inc, a Lafayette, La.,-based provider of home health, hospice and comprehensive post-acute healthcare services, acquired the six-state operation this week to boost its services across 29 states. LHC said it expects the purchase will add to its 2015 earnings.
The deal marks the first major asset sale from the nursing home and senior care empire owned by Cleveland businessman Forrest L. Preston, who founded Life Care Centers of America in 1976.
Vision opens Houston hotel
Chattanooga-based Vision Hospitality Group Inc. opened a Marriott in Houston, the company's first hotel in Texas.
The hotel management and development company is family owned and operated. Its portfolio includes 30 hotels affiliated with Hilton, Marriott and InterContinental brands that are located in Tennessee, Georgia, South Carolina and Indiana.