LAFAYETTE, La., Oct. 15, 2020 /PRNewswire/ -- LHC Group (NASDAQ: LHCG) and CHRISTUS Health today announced an expansion of their joint venture (JV) partnership with an agreement to add a hospice provider in San Marcos, Texas.
It is anticipated that the agreement will be finalized Nov. 1, subject to customary closing conditions.
LHC Group and CHRISTUS have been JV partners since 2017, sharing ownership and governance of home health and hospice agencies, community-based services, and long-term acute care facilities. The partnership combines the experience and expertise of both companies, creating new opportunities to develop and expand in-home and facility-based services in the communities they serve. The JV is governed by a board with equal representation from both companies.
Once the agreement is finalized, the LHC Group-CHRISTUS partnership will include 22 home health, hospice, palliative care, community-based, and long-term acute care locations across three states.
"We are proud to join our partners at CHRISTUS Health in expanding hospice services for San Marcos and the surrounding region," said Keith G. Myers, LHC Group's chairman and CEO. "This is a great opportunity to bring compassionate, quality care to more patients and their loved ones."
"CHRISTUS Health is fortunate to have many wonderful partners like LHC Group which, like CHRISTUS, is committed to care of the highest quality," said Paul Generale, CHRISTUS Health's Executive Vice President Chief Strategy and Network Officer. "Our experience working with LHC in other communities has proven that they work hard to invest and grow services that are vital to the community, like homecare and hospice. The scope of LHC's experience in the post-acute space will allow us to take advantage of their proficiencies and will be a huge win for everyone we serve."
Throughout the COVID-19 pandemic and public health emergency, LHC Group and CHRISTUS Health have repeatedly proven how a solid partnership can deliver industry-leading quality care in the most cost-effective setting. CHRISTUS has created safe care environments for anyone needing care and now more than ever before, is able to fully leveraging LHC Group's infrastructure and capabilities. Together the two health care organizations create a safe and compassionate healthcare delivery model – including communicating on capacity planning, following COVID-19 protocols, and LHC's ability to accept patients at the top of the home-health acuity capability.
LHC Group and its partners deliver a level of in-home healthcare service that is recognized industry-wide for consistent quality. Working together, they enhance home health services, facilitate better coordination of care delivery, and seamlessly transition patients from the hospital to the recovery setting.
Quality in-home healthcare helps patients regain strength and independence, attain the quality of life they deserve, offers valuable guidance and support, and provides the educational tools and resources patients and families need to make an informed decision on care for themselves or a loved one.
Based in Irving, Texas, CHRISTUS Health is an international Catholic, faith-based, not-for-profit health system. The organization operates more than 600 services and facilities, including more than 60 hospitals and long-term care facilities, more than 400 clinics and outpatient centers, and dozens of other health ministries and ventures.
LHC Group is a leading national provider of in-home healthcare services and the JV partner of choice for nearly 400 hospitals across the United States.
About LHC Group, Inc.
LHC Group, Inc. is a national provider of in-home healthcare services and innovations for communities around the nation, offering quality, value-based healthcare to patients primarily within the comfort and privacy of their home or place of residence. The company's 32,000 employees deliver home health, hospice, home and community based services, and facility-based care in 35 states and the District of Columbia – reaching 60 percent of the U.S. population aged 65 and older. As the preferred joint venture partner for almost 400 leading U.S. hospitals and health systems, LHC Group works in cooperation with providers to customize each partnership and reach more patients and families with an effective and efficient model of care.
About CHRISTUS Health
CHRISTUS Health, an international Catholic, faith-based, not-for-profit health system, is headquartered in the Dallas area and is comprised of more than 400 services and facilities, including more than 60 hospitals and long-term care facilities, more than 400 clinics and outpatient centers and dozens of other health ministries and ventures. CHRISTUS services can be found in 60 cities in the U.S., Mexico, Chile and Colombia. The system employs approximately 45,000 Associates and has over 15,000 physicians on facility medical staffs who provide care and support for patients.
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.
SOURCE LHC Group, Inc.