Joint venture partners Brookdale Senior Living (NYSE: BKD) and HCA Healthcare (NYSE: HCA) are selling home health, hospice and therapy agencies across 22 states to LHC Group (Nasdaq: LHCG).

Financial terms of the deal were not disclosed, but Lafayette, Louisiana-based LHC expects $146 million in annualized revenue from the acquisition, according to a press release issued Wednesday. In total, the firm is acquiring 23 home health locations, 11 hospice and 13 therapy agencies across 22 states. These locations are in markets not served by HCA Healthcare, the nation’s largest hospital system, and they will continue to operate under their existing brands.

Once finalized, the deal will give LHC a presence in Minnesota and New Mexico for the first time, while expanding its footprints in 20 states.

Brentwood, Tennessee-based Brookdale announced in February 2021 it was selling an 80% stake in its home health, hospice and outpatient therapy business to HCA for $400 million. Prior to the LHC deal, the segment consisted of 57 home health agencies, 22 hospice agencies and 84 outpatient centers across 26 states.

The JV earned Brookdale $300 million in upfront net proceeds, and strengthened ties between the company and its hospital partner. HCA owns and operates 185 hospitals, along with nearly 2,000 primary care, urgent care, and surgical centers in 21 states.

Brookdale will retain its interest in the JV, which will also positively impacts its balance sheet. The company declined further comment to Senior Housing News.

“This transaction will further strengthen our liquidity, maintain our 20% interest in the venture with HCA Healthcare, and ensure that high-quality home health and hospice services continue to be available to our residents at communities in these markets,” Brookdale President and CEO Cindy Baier said in a press release.

LHC Group CEO Keith Myers echoed Baier’s statement about serving Brookdale’s senior living residents.

“LHC Group also looks forward to working with Brookdale Senior Living’s 226 senior living communities in these territories,” he said in Wednesday’s press release.

LHC is experiencing rapid growth throughout 2021. The home health provider increased its annual guidance for the year from $350 million to $500 million, compared to original projections ranging from $150 million to $200 million. Additionally, it has completed or announced $308 million in M&A activity to-date, Home Health Care News reports.