LHC Group and LifePoint Health to Form Joint Venture
November 02 2016 - 7:00AM
Business Wire
Companies partner to develop and grow high
quality home health and hospice services in communities across the
nation
LHC Group, Inc. (NASDAQ: LHCG) and LifePoint Health® (NASDAQ:
LPNT) today announced plans to form a joint venture to strengthen
home health and hospice services across the country. The
organizations have signed a definitive agreement to share ownership
and governance of a new joint venture that will operate LifePoint’s
home health agencies and hospices, as well as select LHC Group
agencies located near LifePoint hospitals. Combining the collective
expertise of both organizations through this joint venture will
enable the development and expansion of services for both
companies.
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“LHC Group and LifePoint Health share a deep commitment to
compassionate, patient-centered care,” said Keith G. Myers,
chairman and chief executive officer of LHC Group. “This
partnership brings together two culturally aligned companies that
are driven by a vision of expanding home health and hospice care,
ensuring that patients and families in need of these services have
access to them, and improving the health of communities.”
Under the terms of the definitive agreement, the joint venture
will shift day-to-day operations management of LifePoint’s home
health agencies and hospices, as well as all future home health and
hospice acquisitions, to LHC Group. LifePoint’s home health
agencies and hospices will continue to operate under their existing
names. A newly-created joint venture governing board with equal
representation of both companies will direct key governance
decisions.
“We are eager to finalize our partnership with LHC Group and
work together to enhance our existing home health and hospice
services. This partnership further demonstrates our commitment to
making communities healthier beyond the walls of our hospitals and
across the continuum of care,” said William F. Carpenter III,
chairman and chief executive officer of LifePoint Health.
“Post-acute services are an increasingly important part of our
business and our communities’ healthcare needs. By leveraging LHC
Group’s expertise, we will gain access to the resources and the
infrastructure needed to enhance our existing home health and
hospice services, invest more in care coordination across our
network, and expand access to these services in all our
communities.”
LHC Group maintains 133 hospital and health system partnered
home health and hospice locations, and more than 300 post-acute
care locations across 25 states. LifePoint currently operates 20
home health and 10 hospice locations within its network of more
than 70 hospitals in 22 states.
The joint venture is anticipated to commence operations at the
end of 2016, subject to certain regulatory approvals and customary
closing conditions.
About LHC Group, Inc.
LHC Group, Inc. is a national provider of non-acute healthcare
services, providing quality, cost-effective healthcare to patients
primarily within the comfort and privacy of their home or place of
residence. LHC Group provides a comprehensive array of healthcare
services through home health, hospice, community-based services
agencies and long-term acute care hospitals (LTACHs). LHC Group
operates more than 289 home health services locations, 64 hospice
locations, 11 community-based service locations and six LTACHs with
eight locations.
About LifePoint Health
LifePoint Health (NASDAQ: LPNT) is a leading healthcare company
dedicated to Making Communities Healthier®. Through its
subsidiaries, it provides quality inpatient, outpatient and
post-acute services close to home. LifePoint owns and operates
community hospitals, regional health systems, physician practices,
outpatient centers, and post-acute facilities in 22 states. It
is the sole community healthcare provider in the majority of the
non-urban communities it serves. More information about the company
can be found at www.LifePointHealth.net. All references to
"LifePoint," "LifePoint Health" or the "Company" used in this
release refer to affiliates or subsidiaries of LifePoint Health,
Inc.
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version on businesswire.com: http://www.businesswire.com/news/home/20161102005524/en/
LHC Group Investor RelationsEric Elliot,
337-233-1307eric.elliott@LHCGroup.comorLHC Group MediaChristina
VerHeul, 615-760-3687cv@thinkrevivehealth.comorLifePoint Health
Communications DepartmentMichelle Augusty,
615-920-7654Michelle.augusty@lpnt.net
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