The two companies will operate home health and hospice centers located near LifePoint hospitals. The deal is expected to be operational by the end of 2016.
LHC Group, Inc. and LifePoint Health are forming a joint venture that will operate home health agencies and hospices near LifePoint hospitals, the two companies announced Wednesday.
Under the deal, the joint venture will shift day-to-day operations of LifePoint's home health agencies and hospices, and future home health and hospice acquisitions, to LHC Group. LifePoint's home health agencies and hospices will continue to operate under their existing names.
The joint venture will be governed by a board with equal representation from both companies, the two companies said in a joint media release.
"This partnership further demonstrates our commitment to making communities healthier beyond the walls of our hospitals and across the continuum of care," said LifePoint CEO and Chairman William F. Carpenter III.
"Post-acute services are an increasingly important part of our business and our communities' healthcare needs," he said. "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."
Lafayette, LA-based LHC Group operates 133 hospital and health system-partnered home health and hospices, and more than 300 post-acute care locations across 25 states. Brentwood, TN-based LifePoint operates 20 home health and 10 hospices in its network of more than 70 hospitals in 22 states.
"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." said Keith G. Myers, chairman and CEO of LHC Group
The joint venture is expected to begin by the end of 2016, subject to regulatory approval.