UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): February 7, 2008
LHC GROUP, INC.
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(Exact Name of Registrant as Specified in Charter)
Delaware 8082 71-0918189
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
420 West Pinhook Rd., Suite A
Lafayette, LA 70503
(Address of Principal Executive Offices, including Zip Code)
(337) 233-1307
(Registrant's telephone number, including area code)
N/A
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
|_| Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
As described in Item 2.03 below, on February 7, 2008, Palmetto Express, LLC
(the "Borrower"), a subsidiary of LHC Group, Inc. (the "Guarantor"), entered
into a Loan Agreement (the "Loan Agreement") with Capital One, National
Association (the "Lender"). The information set forth under Item 2.03 of this
report is incorporated by reference in this Item 1.01.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
On February 7, 2008, Palmetto Express, LLC (the "Borrower"), a subsidiary
of LHC Group, Inc. (the "Guarantor"), entered into a Loan Agreement (the "Loan
Agreement") with Capital One, National Association (the "Lender") for a term
note in the amount of $5,050,000 for the purchase of a 1999 Cessna 560 aircraft.
This aircraft shall replace the aircraft purchased by LHC Group, Inc. in August
2005. LHC Group (the "Company") believes that the newer aircraft will be much
more reliable, more cost-effective and more productive in terms of time
management than the older plane due to the Company's continuing geographical
expansion. LHC Group is currently in the process of selling the plane purchased
in August 2005, and the proceeds from that sale will be used to pay off the debt
associated with the purchase of the plane in 2005.
The term note is payable in 84 monthly installments of principal plus
interest commencing on March 6, 2008 and ending with the final payment on
February 6, 2015. The term note will bear the interest at the LIBOR Rate
(adjusted monthly) plus the Applicable Margin of 1.9%.
The summary above is qualified in its entirety by the Loan Agreement
attached hereto as Exhibit 10.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
A copy of the Loan Agreement is attached as Exhibit 10.1 to this Current
Report on Form 8-K.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
LHC GROUP, INC.
By: /s/ Peter J. Roman
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Peter J. Roman
Senior Vice President and Chief
Financial Officer
Dated: February 12, 2008
INDEX TO EXHIBITS
EXHIBIT NO. DESCRIPTION
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10.1 Loan Agreement, dated February 6, 2008, by and
between Palmetto Express, L.L.C .(the "Borrower"),
LHC Group, Inc. (the "Guarantor") and Capital One,
National Association (the "Lender").