LHC Group and LifePoint Health Collaborate to Enhance Home Health and Hospice Services Nationwide
January 03 2017 - 07:00AM
LHC Group, Inc. (NASDAQ:LHCG) and LifePoint Health® (NASDAQ:LPNT)
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.”
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 HealthLifePoint
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.
Forward-looking StatementsIn
addition to historical information, this release may contain
certain statements that constitute “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements, together with other
statements that are not historical, are based on current
expectations of the managements of LHC Group and LifePoint (the
“Companies”) and involve known and unknown risks, uncertainties,
contingencies and other factors that could cause results,
performance or achievements to differ materially from those stated.
The most significant of these risks and uncertainties are described
in the Companies’ Form 10-K, Form 10-Q and Form 8-K reports filed
with the Securities and Exchange Commission. Should one or more of
these risks or uncertainties materialize or should underlying
assumptions prove incorrect, the Companies’ actual results,
performance or achievements could differ materially from those
expressed in, or implied by, such forward-looking statements.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof.
Except as otherwise required by law, the Companies do not undertake
any obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events.
Contacts:
LHC Group Investor Relations
Eric Elliot
337-233-1307
eric.elliott@LHCGroup.com
LHC Group Media
Christina VerHeul
615-760-3687
cv@thinkrevivehealth.com
LifePoint Health Communications
Michelle Augusty
615-920-7654
michelle.augusty@lpnt.net
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