LHC Group, Inc. LHCG recently finalized its acquisition agreements for one home health and one hospice provider situated in Virginia Beach, effective Oct 1, 2021. The acquisition agreements for the two providers were announced on Sep 14, 2021.The acquisition deals consist of the Generations Home Health and Freda H. Gordon Hospice and Palliative Care. It is important to note that both agencies will continue to operate under their existing titles.This buyout aims at expanding LHC Group’s home health and hospice businesses.Significance of the DealsBoth the acquisitions align with LHC Group's co-location strategy to offer multiple in-home healthcare services in certain markets as well as its strategy of retaining and operating under a family of well-known local brands. Additionally, the buyouts expand the company’s scope of services in Virginia, precisely the Virginia Beach region.Per management, the combined expertise of LHC Group and the two recently acquired providers -- one in home health and one in hospice -- coupled with their incredible reputation will help ensure broader access to quality, in-home service in patients’ preferred setting, like their homes.LHC Group projects annualized revenues of approximately $7 million from these acquisitions. However, the company noted that the acquisition deals will not materially impact its 2021 diluted earnings per share.Industry ProspectsPer a report published in MarketandMarkets, the global home healthcare market size is set to witness a CAGR of 8.6% by 2025. Factors driving the market include a surge in the elderly population, rising incidence of chronic diseases, growing need for cost-effective healthcare delivery and technological advancements of home care devices.In addition, the global hospice market is expected to see a CAGR of 9.1% between 2021 and 2026, going by a report published in Market Data Forecast. The growing use of hospice services and the increasing prevalence of chronic disorders can be attributed as key factors fueling global hospice market growth.Given the substantial market prospects in the global home healthcare and hospice markets, the conclusion of LHC Group’s Sep 14-announced acquisition deals seem strategic and well-timed.Notable Developments by LHC GroupIn September 2021, LHC Group entered into an agreement to acquire Brookdale Health Care Services agencies from the home health, hospice and outpatient therapy venture between HCA Healthcare HCA and Brookdale Senior Living Inc. This buyout significantly expands the company’s nationwide footprint, resources and service capabilities. The transaction is expected to be completed in the fourth quarter of 2021, upon fulfillment of customary conditions.In the same month, the company announced the finalization of its previously announced acquisition of Heart of Hospice from EPI Group, LLC. By bringing 16 new hospice locations into the LHC Group family, this buyout expands the company’s hospice footprint across five states. Notably, these recent locations will continue to function under the Heart of Hospice name.In July 2021, the company entered into a strategic partnership with SCP Health to jointly develop and deliver advanced clinical care services at home. The partnership will offer a comprehensive offering of in-home healthcare services, including skilled nursing facility (SNF)-at-home and hospital-at-home programs to existing and new hospital and health system partners. This partnership is intended to meet the increasing demand for value-based care models and at-home care solutions.Recent Home Health & Hospice Market DevelopmentsThe home health and hospice markets are competitive with the presence of niche players.In this regard, Amedisys, Inc. AMED recently acquired regulatory assets that will enable the company to operate in Westchester County, NY. The terms of the agreement provide Amedisys the right to conduct certified home health care services in Westchester County and the New York Borough of the Bronx. The company plans to open a start-up care center in the newly acquired service area, offering access to 375,000 Medicare enrollees and 165,000 Medicare Advantage enrollees.Encompass Health Corporation EHC has also been progressing well in the home health and hospice markets after completing its previously announced acquisition of Frontier Home Health and Hospice. This acquisition expands the company’s footprint with the addition of nine home health and 11 hospice locations. This enables Encompass Health to serve markets in Alaska, Montana and Washington while strengthening its existing presence in Colorado and Wyoming. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. You know this company from its past glory days, but few would expect that it's poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks' Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amedisys, Inc. (AMED): Free Stock Analysis Report HCA Healthcare, Inc. (HCA): Free Stock Analysis Report LHC Group, Inc. (LHCG): Free Stock Analysis Report Encompass Health Corporation (EHC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research