Industry News • January 6, 2020
LAFAYETTE, La., Jan. 06, 2020 (GLOBE NEWSWIRE) — LHC Group, Inc. (NASDAQ: LHCG) announced today that it has finalized joint venture (JV) purchase and expansion agreements with partners in Texas, Arkansas, and Louisiana – all effective as of January 1, 2020. These transactions represent annualized revenue of approximately $23.8 million.
DFW Home Health – a separate legal entity jointly owned by partners LHC Group, Texas Health Resources, and North Texas Health Facilities Management, Inc., a subsidiary of Methodist Health System – has completed purchase of a home health provider serving patients and families in Arlington, Texas.
The partnership has been in operation since 2012. This acquisition expands the partnership’s footprint to four locations across the Dallas/Fort Worth Metroplex – joining sister locations in Dallas, Fort Worth, and Denton. LHC Group expects approximately $2.4 million in annualized revenue from this transaction. The agency name will change to DFW Home Health Arlington. It will continue to operate from its current location in Arlington.
LHC Group and JV partner LifePoint Health finalized a purchase agreement adding two additional locations – a home health provider and a hospice provider – in Bryant, Ark., that are associated with LifePoint’s Saline Memorial Hospital.
LHC Group expects approximately $5.4 million in annualized revenue from this transaction. The Bryant, Ark., home health and hospice providers will operate under the names Saline Memorial Home Health and Saline Memorial Hospice, respectively.
LHC Group and LifePoint Health formed their JV partnership in 2017 to share ownership and governance of LifePoint’s home health agencies and hospices as well as select LHC Group agencies located near LifePoint facilities. Since it was established, the LHC Group-LifePoint partnership has grown to include 49 home health and hospice locations across 10 states.
LHC Group and Ochsner Health System have purchased five Egan Home Health and Hospice provider locations across South Louisiana as part of their existing JV partnership, operating as Southeast Louisiana HomeCare.
LHC Group expects approximately $16 million in annualized revenue from this transaction. LHC Group and Ochsner have been home health joint venture partners since 2009.
LHC Group and its JV partners will continue to work with current referral sources and patients to ensure there is no interruption in the continuity of care.
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.
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.