Wednesday, January 04, 2017
LHC Group, Inc. and LifePoint Health® have finalized the formation of a joint venture that will strengthen home health and hospice services across the country. The joint venture, which will operate LifePoint’s home health agencies and hospices and select LHC Group agencies located near LifePoint hospitals, combines the experience and expertise of both companies, creating new opportunities for them to develop and expand post-acute services in the communities they serve.
“For LHC Group, this joint venture with LifePoint marks an incredible step forward in achieving our company’s purpose: it’s all about helping people,” said Keith G. Myers, LHC Group’s chairman and chief executive officer. “As healthcare providers seek ways to better support the health and wellbeing of their patients both within and outside hospital settings, post-acute services are more important than ever. Our new partnership represents significant growth for LHC Group – and exciting opportunities for both companies to grow home health and hospice services in the communities we serve, enhancing families’ access to these services and creating healthier communities.”
LHC Group and LifePoint announced a definitive agreement to share ownership and governance of a joint venture on November 2, 2016. The joint venture was finalized effective January 1, 2017, following regulatory approvals and customary closing conditions, and LifePoint’s current home health agencies and hospices have begun transitioning to the joint venture’s management in a phased approach.
The LHC Group/LifePoint joint venture will be governed by a board with equal representation from both companies. Operationally, LHC Group will oversee day-to-day management of the joint venture’s assets, which will ultimately include LifePoint’s 20 home health and 10 hospice locations, as well as any future home health and hospice acquisitions. All home health agencies and hospices will continue to operate under their existing names, and there will be no changes in staff, location, contact information or referral processes.
“LifePoint is constantly striving to improve care coordination and strengthen the entire continuum of care that our patients and their families experience,” said William F. Carpenter III, chairman and chief executive officer of LifePoint Health. “As an organization, we recognize when we can benefit from a strong partner who can provide greater, specialized expertise. We’re thrilled to have found this partner for home health and hospice services in LHC Group. Our organizations’ shared vision for building stronger healthcare delivery systems in the communities we serve is the foundation we believe will enable this joint venture to meet and exceed our expectations. We are confident that through this joint venture, we’ll be able to make our communities healthier in meaningful ways.”
