Company also completes purchase of Baltimore location from VNA of Maryland
LAFAYETTE, La., Sept. 04, 2019 (GLOBE NEWSWIRE) — LHC Group, Inc. (LHCG) announced today that it has finalized a new joint venture (JV) agreement with Norton Healthcare in Louisville, Ky., effective Sept. 1. The two organizations will share ownership of Caregivers Health Network, a home health provider serving patients and families in Louisville and the region with high-quality affordable healthcare services in the privacy and comfort of their home.
Under the terms of the agreement, Norton Healthcare will purchase a minority interest in the agency, which will be renamed Norton Home Health. Moving forward, the agency will be integrated in accordance with LHC Group’s current JV processes and procedures.
“As citizens of the Louisville business community, we are honored and excited to join forces with Norton Healthcare, one of the region’s most recognized and respected healthcare providers,” said Keith Myers, LHC Group chairman and CEO. “The combined resources and experience of our two organizations will allow us to enhance and expand services for our patients, and continue making in-home healthcare the preferred and most efficient setting for recovery and management of health conditions.”
LHC Group and Norton Healthcare will continue to work with providers, patients, and families to ensure there is no interruption in the continuity of care.
Norton Healthcare is a leader in serving adult and pediatric patients throughout Greater Louisville, Southern Indiana, the Commonwealth of Kentucky, and beyond. The hospital and health care system is Louisville’s fourth largest employer, providing care at more than 250 locations throughout Kentucky and Southern Indiana.
“We are pleased to partner with LHC Group, one of the leading national providers of in-home healthcare, to enhance the services we provide for our patients,” said Russell Cox, president and CEO of Norton Healthcare. “Through Norton Home Health, patients will receive care to regain strength and independence following an injury or illness, or when dealing with a chronic condition or disabling disease. They will also benefit from a multidisciplinary approach to treatment that is monitored through their electronic medical record, stay connected to their health record, and communicate with their provider through MyNortonChart.”
In Baltimore, LHC Group has finalized the purchase of a home health and home and community based services (HCBS) provider located in Baltimore from VNA of Maryland and Elite Home Care Services – also effective Sept. 1. LHC Group first announced the purchase agreement in July 2019.
The provider’s home health services will continue to operate under the current name of VNA of Maryland. HCBS services will operate under the name of Maryland Private Care. The provider serves patients in Baltimore and the licensed service area with in-home healthcare.
LHC Group expects annualized revenue from the Baltimore purchase of approximately $35 million and that it will not materially affect its 2019 diluted earnings per share.
LHC Group helps its hospital partners provide patients with solutions for recovery in the comfort of home, helping prevent costly and avoidable hospital readmissions. Working together, they enhance home health services, facilitate better coordination of care delivery, and seamlessly transition patients from the hospital to the recovery setting.
Quality in-home healthcare helps patients regain strength and independence, attain the quality of life they deserve, offers valuable guidance and support, and provides the educational tools and resources patients and families need to make an informed decision on care for themselves or a loved one.
Healthcare JV partnerships are a key component in helping patients manage their conditions and receive efficient and effective care. LHC Group and its partners deliver a level of in-home healthcare service that is recognized industry-wide for consistent quality.
LHC Group is a leading national provider of in-home healthcare services and the JV partner of choice for 350 hospitals across the United States.
This article originally appeared in an article in GlobeNewswire.