LHC Group Inc. (Nasdaq: LHCG) on Thursday introduced the finalization of two three way partnership agreements.
A house well being, hospice and private care providers supplier, Lafayette, Louisiana-based LHC Group at the moment operates in 35 states and Washington, D.C.
In one of many two new JV agreements, LHC Group will share possession of SunCrest House Well being, a Gainesville, Georgia-based supplier with Northeast Georgia Well being System, a not-for-profit neighborhood well being care group.
SunCrest House Well being will rebrand as Northeast Georgia House Well being.
“Our LHC Group household is genuinely excited to develop our providers within the state of Georgia by becoming a member of forces with a revered, high-quality well being care group like Northeast Georgia Well being System,” Keith Myers, LHC Group’s chairman and CEO, stated in a press launch. “With our mixed expertise, expertise and assets, we will carry efficient value-based care to extra sufferers in Gainesville and throughout the area, and achieve this within the most secure and most most well-liked location – the consolation and familiarity of their residence or place of residence.”
LHC Group additionally finalized its JV with Augusta, Georgia-based College Well being Care System, first announced in August. Beneath the settlement, the 2 organizations will work to strengthen the house well being and hospice providers in that area.
The corporate estimates annual revenues of $8.3 million from its JV with College Well being Care System.
Through the years, LHC Group has gained a status for being bullish with regards to focusing on JV alternatives. The corporate has turn out to be the popular in-home well being care companion for almost 400 main hospitals throughout the U.S.
The corporate has constructed a large community of JV partnerships — viewing every deal as distinctive agreements, based on Myers.
“We now confer with ourselves as a ‘customized builder’ of in-home well being care providers partnerships, as a result of no two of our hospital partnerships are precisely alike, in reality,” Myers recently said throughout a panel dialogue on the 2020 House Well being Care Information FUTURE convention.
Along with its current JV partnerships, LHC Group introduced plans to amass Santa Rita Hospice, an Aurora, Colorado-based end-of-life care supplier. Beneath the deal, Santa Rita Hospice will function underneath the identify At House Hospice.
The eight-county Santa Rita Hospice has been owned and operated by an area household, based mostly in Denver.
“We see progress potential for hospice providers within the Aurora market,” Myers stated. “This transaction aligns with our technique to co-locate residence well being and hospice providers in markets the place it is smart — enabling us to achieve much more sufferers and households with the standard care and repair they deserve.”