LAFAYETTE, La., Dec. 18, 2019 (GLOBE NEWSWIRE) — LHC Group, Inc. (NASDAQ: LHCG) and Ochsner Health System (Ochsner) announced an expansion of their joint venture partnership – Southeast Louisiana HomeCare – with an agreement to purchase five Egan Home Health and Hospice provider locations across South Louisiana.
LHC Group and Ochsner have been home health joint venture partners since 2009. Through their partnership, the two healthcare organizations have improved the overall quality ratings for their agencies, as well as reduced hospital readmission rates.
“We are excited by this opportunity to expand our current joint venture agreement with a respected healthcare partner like Ochsner Health System,” said Keith Myers, LHC Group chairman and CEO. “We look forward to helping Ochsner care for more people and continue enhancing and expanding access to vital healthcare services in communities we serve together.”
“There is nothing more important than continuing seamless quality care for the patients who depend on us,” said Peter Egan, CEO of Egan Home Health and Hospice. “We are thrilled that LHC Group and Ochsner together have the experience and infrastructure – along with an outstanding reputation for quality – to ensure the patients in our care continue receiving vital healthcare services without interruption.”
Working together, LHC Group and Ochsner help patients regain strength and independence, attain the quality of life they deserve, provide valuable guidance and support, and provide the educational tools and resources that help families make an informed decision when the time arrives to plan for the care of a loved one.
“We strive to deliver exceptional care to our patients no matter where they are on their healthcare journey,” stated Warner Thomas, president and CEO, Ochsner Health System. “Our partnership with LHC Group allows Ochsner to care for more patients in ways beyond our traditional hospital and clinic setting. By aligning two quality-focused organizations, we can help our community receive valuable resources and needed support.”
It is anticipated that this agreement will be finalized on Jan. 1, 2020, subject to customary closing conditions. LHC Group expects approximately $16 million in annualized revenue from this purchase.
Through their partnership, LHC Group and Ochsner focus on expanding access to in-home healthcare service capacity and capabilities in key markets. Home health and hospice partnerships are a key component in helping patients receive efficient and effective care.
LHC Group and its partners deliver a level of in-home care that is recognized industry-wide for consistent quality. LHC Group is a leading national provider of in-home healthcare services and the joint venture partner of choice for 350 hospitals across the United States.
Founded in 1942 by five physicians, Ochsner is one of the largest independent academic health systems in the United States and the largest not-for-profit health system in the Gulf South.
This article originally appeared in an article in GlobeNewswire.