Canyon Home Care Scoops Up Hospital Home Health Agency for $1.45 Million
A Washington-based hospital is trading its in-house home health care agency for a lump sum.
Island Hospital in Anacortes, Washington, agreed last week to sell its home health care division to Utah-based Canyon Home Care & Hospice for $1.45 million, reports local news site goanacortes.com. Canyon runs 12 locations in Utah, Idaho, and Oregon.
Island Hospital Home Health looks after about 80 to 100 patients at a time and employs 18 nurses and social workers in the state’s Skagit and San Juan counties, it was reported. The hospital is located about 80 miles north of Seattle, on Fidalgo Island.
But the hospital was struggling as of late to make a profit on its home health care services, the company’s CEO, Vince Oliver, told the local news source. A hospital executive at a recent board meeting reported an operating loss of about $39,000 in home health services this year alone.
Canyon Home Care will fully take over Island Hospital Home Health on July 26.
Island Hospital had not responded to requests from Home Health Care News as of press time.
Hospital systems, such as Community Health Systems (NYSE: CYH), Tenet Healthcare (NYSE: THC), and Baylor Scott & White, also have jumped ship on their home health operations by selling them or entering into joint ventures with providers that are dedicated to home health.
The Mayo Clinic Health System followed suit in that trend last week by announcing it’s shuttering its home health care services in two Minnesota markets.
Written by Tim Regan