Bankruptcy Judge Gregory R. Schaaf authorized the sale of Nurses Registry and Home Health Corp. to a Louisiana company called LHC Group for $5.7 million, the Lexington (Ky.) Herald-Leader reported today. In an order authorizing the sale of the Lexington-based company, Judge Schaaf wrote that LHC Group's proposed purchase "is fair and reasonable, represents the highest and best offer for the purchased assets, and is in the best interests of the debtor, its creditors and its estate." Of the net sale proceeds, 70 percent will go to the U.S. government and 30 percent will go to the bankruptcy estate, according to an order approving the settlement agreement. Another company, Five Points Healthcare LLC in Atlanta, had submitted a bid of $3.5 million for Nurses Registry at a court-authorized auction, but its bid was not accepted. Based in Lafayette, La., LHC Group is a national provider of home health, hospice and comprehensive post-acute health care services.
