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LHC Group and Unity Health Announce Joint Venture Agreement in Arkansas
LAFAYETTE, La., Jan. 31, 2019 (GLOBE NEWSWIRE) -- LHC Group (NASDAQ: LHCG) and Unity Health today announced finalization of an equity partnership agreement to purchase and share ownership of two home health providers in Arkansas: Unity Health – White County Medical Center Home Health in Searcy and Unity Health – Harris Medical Center Home Health in Newport. The agencies serve patients and families in their respective communities and the Northeast Arkansas region with in-home healthcare.
With the closing of the joint venture agreement, LHC Group will oversee the day-to-day operations of both agencies which will continue service from their current locations under a new name: Unity Health | HomeCare. LHC Group expects annualized revenue from this joint venture of approximately $4 million and that it will not materially affect its 2019 diluted earnings per share.
“This new partnership is an exciting opportunity for both organizations to combine our talent, assets, and experience and reach more patients with quality home healthcare,” said Keith G. Myers, LHC Group’s chairman and CEO. “The LHC Group team looks forward to expanding our presence in Arkansas and working with our new partners at Unity Health to provide high-quality care and improve post-acute outcomes for our patients.”
“We look forward to the benefits this partnership will bring to our local communities and are excited to continue to offer high quality home healthcare to our patients. Working with a like-minded community partner is a natural fit for Unity Health,” said Steven Webb, Unity Health President/CEO.
Based in Searcy, Ark., Unity Health is the leading healthcare provider and largest employer in an eight-county area. The facility has a combined total of 438 licensed beds and a medical staff of more than 150 physicians that specialize in various areas of healthcare.
LHC Group is a leading national provider of in-home healthcare services and the joint venture partner of choice for 340 hospitals across the United States.
By forming relationships with Unity Health and other healthcare partners around the nation, LHC Group enhances post-acute care solutions and programs for communities and patients. Hospitals and health systems increasingly seek a high-quality post-acute partner to help manage the transitioning of patients – making sure that they move through the post-acute care continuum as effectively and efficiently as possible.
Hospital and home health partnerships are a key component in helping patients manage their conditions and achieve an optimum outcome. Home health professionals treat a wide range of medical conditions, allowing patients to rest and recover in the comfort of home.
Working together, LHC Group and its partners deliver a level of in-home healthcare service that is recognized industry-wide for consistent quality. They provide effective and affordable care options that offer the guidance, support, and resources patients and families need to make an informed decision for themselves or a loved one – helping them regain strength and independence and attain the quality of life they deserve.
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 32,000 employees deliver home health, hospice, home and community based services, and facility-based care in 36 states – reaching 60 percent of the U.S. population aged 65 and older. LHC Group is the preferred in-home healthcare partner for 340 leading hospitals around the country.
About Unity Health
As the leading health care provider in an eight-county area, Unity Health and its associates strive to improve the quality of health and well-being for the communities it serves through compassionate care. Unity Health associates and partners strive to create a healthy community by creating a healing environment that enables people to reach their highest potential for health. For more information, visit http://www.unity-health.org.
Certain statements and information in this press release may be deemed to contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may include, but are not limited to, statements relating to our objectives, plans and strategies, and all statements, other than statements of historical facts, that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future. These statements are often characterized by terminology such as “believe”, “hope”, “may”, “anticipate”, “should”, “intend”, “plan”, “will”, “expect”, “estimate”, “project”, “positioned”, “strategy” and similar expressions, and are based on assumptions and assessments made by LHC Group’s management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Any forward-looking statements in this press release are made as of the date hereof, and LHC Group undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Important factors that could cause actual results, developments, and business decisions to differ materially from forward-looking statements are described in LHC Group’s most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, including the sections entitled “Risk Factors”, as well LHC Group’s current reports on Form 8-K, filed with the Securities and Exchange Commission.