LHC Group (NASDAQ: LHCG) today announced the finalization of two equity
partnership agreements to purchase and share ownership of home health
and hospice services locations with regional health system providers in
the markets of Reno, Nev., and Jefferson City, Mo.
In Reno, LHC Group – in a partnership agreement with St. Mary’s Regional
Medical Center – is purchasing majority ownership of St. Mary’s Hospice
of Northern Nevada and assuming management responsibility. The facility
will continue to operate under the same name at its current location.
LHC Group expects annualized revenue from this joint venture of
approximately $4.9 million and that it will not materially affect its
2018 diluted earnings per share.
The agreement expands LHC Group’s current joint venture partnership with
St. Mary’s. In May, the two organizations announced a similar agreement
to operate St. Mary’s Home Care Services – a home health provider
serving patients and families in Washoe and surrounding counties in
Nevada.
In Jefferson City, LHC Group – in a partnership agreement with Capital
Region Medical Center – is purchasing majority ownership of Capital
Region Home Health and assuming management responsibility. The facility
will continue to operate under the same name at its current location.
LHC Group expects annualized revenue from this joint venture of
approximately $1.6 million and that it will not materially affect its
2018 diluted earnings per share.
Since 1997, Capital Region Medical Center has been affiliated with
University of Missouri Health Care – combining the strengths of an
academic medical center with the strengths of a community-based hospital.
“We look forward to working with our new partners as we expand their
post-acute presence and capabilities in their respective regions –
western Nevada and central Missouri,” said Keith Myers, LHC Group
chairman and CEO. “Together, we will grow these service lines and
enhance our partners’ ability to provide high quality care to the
patients and families they serve.”
Hospital and home health/hospice partnerships focus on delivering
patient-centered care in the comfort of the patient’s home. They are a
key component in helping patients recover, manage chronic conditions,
deal with the challenges and complexities of terminal illness, and
achieve the best possible outcome. LHC Group is the joint venture
partner of choice for 76 health systems consisting of 337 hospitals
across the United States.
Working together to provide quality in-home healthcare, LHC Group and
its partners help patients attain the quality of life they deserve,
offer valuable guidance and support, and provide the educational tools
and resources patients and families need to make an informed decision on
care for themselves or a loved one.
About LHC Group, Inc.
LHC
Group, Inc. is a national provider of in-home healthcare services
and innovations, providing quality, value-based healthcare to patients
primarily within the comfort and privacy of their home or place of
residence. LHC Group’s services cover a wide range of healthcare needs
for patients and families dealing with illness, injury, or chronic
conditions. The company’s approximately 30,000 employees deliver home
health, hospice, home and community based services, and facility-based
services from more than 780 locations in communities in 37 states.
Through its healthcare innovations business, LHC Group drives increased
utilization of home healthcare and enhances patient and caregiver
engagement. LHC Group is the preferred in-home healthcare partner for 76
health systems consisting of 337 leading hospitals around the country.
About St. Mary’s Health Network
Saint Mary’s, based in Reno, Nev., includes a 380-bed acute care
hospital offering inpatient, outpatient and wellness services.
Nationally recognized and accredited by the Joint Commission, Saint
Mary’s offers a robust line of services including a top-rated Center for
Cancer, robust surgical and orthopedic services, and award-winning
Cardiology program and more. The health system also operates a
fully-integrated Medical Group and a state-of-the-art Fitness Center. As
a long-standing community partner, Saint Mary’s is dedicated to ensuring
the health and wellness of northern Nevada remains strong. For more
information, visit www.SaintMarysReno.com.
About Capital Region Medical Center
Capital Region is a 100-bed facility offering a continuum of care
in-house from prenatal and maternity services to home health services.
It also offers one of the few accredited rehabilitation centers in the
state, and advanced cardiac and oncology services. In addition to being
a full-service hospital, Capital Region Medical Center operates an
extensive clinic system, from urgent care centers to specialty physician
practices. Throughout the history of Capital Region Medical Center, the
mission has stayed the same—to improve the health and promote the
wellness of the communities we serve.
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