LHC Group 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.
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.