LHC Group completes JV purchase, expansion agreements
LHC Group Inc. (Nasdaq: LHCG) has hit the ground running in 2020.
The Lafayette, Louisiana-based home health, hospice and personal care powerhouse announced Monday it has finalized joint venture purchase and expansion agreements in Texas, Arkansas and Louisiana. The transactions — all effective as of Jan. 1 — represent annualized revenue of about $23.8 million.
In Texas, DFW Home Health completed its purchase of a home health provider serving patients and families in Arlington, Texas. DFW Home Health is a separate legal entity jointly owned by partners LHC Group, Texas Health Resources and North Texas Health Facilities Management Inc., a subsidiary of Methodist Health System.
LHC Group, Texas Health Resources and North Texas Health Facilities Management have been operating under a partnership framework since 2012. Moving forward, DFW will be rebranded to “DFW Home Health Arlington.”
Meanwhile, in Arkansas, LHC Group and JV partner LifePoint Health finalized a deal to add two additional locations to their network: a home health provider and a hospice provider, both in Bryant. The two providers are associated with LifePoint’s Saline Memorial Hospital.
The Bryant, Arkansas, home health and hospice locations will operate under the names “Saline Memorial Home Health” and “Saline Memorial Hospice,” respectively. The LHC Group and LifePoint JV, first formed in 2017, now has nearly 50 home health and hospice locations across 10 states.
Finally, in Louisiana, LHC Group and Ochsner Health System have completed their deal for five Egan Home Health and Hospice locations across south Louisiana as part of their existing JV partnership, known as Southeast Louisiana HomeCare.
LHC Group CEO and Chairman Keith Myers recently discussed Egan with Home Health Care News, noting that the deal is reflective of M&A opportunities tied to the Patient-Driven Groupings Model (PDGM).
“There are some agencies that are going to go out of business because they’re not well-managed,” Myers told HHCN. “We’re focused on the high-quality ones. We’re focused on the ones with good reputations that just aren’t big enough to make it on their own.”
LHC Group and Ochsner have been home health JV partners since 2009.
Care Advantage keeps growing
BelHealth Investment Partners-backed Care Advantage has acquired Amaisa Home Care, a provider of in-home personal care services based in Leesburg, Virginia. Financial terms of the deal were not disclosed.
Led by CEO Tim Hanold, Richmond, Virginia-based Care Advantage is one of the Mid-Atlantic region’s largest privately held providers of in-home care. Currently, the provider has more than 5,000 employees and serves more than 7,000 patients per year across 40 branch locations.
Founded in 2014, Amaisa offers in-home personal care exclusively on a private-pay basis. The provider operates predominantly in Loudoun, Fairfax and Prince William counties in Virginia.
Care Advantage’s acquisition of Amaisa comes after a busy M&A in 2019. Most recently, Care Advantage also acquired Team Nurse in December.
“Whether it’s Medicare, Medicaid or private duty, we are essentially taking care of the entire swath of the population of the Mid-Atlantic area,” CEO Hanold told HHCN following the Team Nurse announcement. “When we’re looking at acquisitions, we’re looking at other families joining ours, and whether they match up with the same type of passion in providing a great experience for our patients and a great experience for our caregivers.”
Senior Helpers announces new partnership
Senior Helpers has partnered with yet another organization.
On Tuesday, Senior Helpers announced it’s partnering with the nonprofit Aging Life Care Association (ALCA), a care management organization that represents roughly 2,000 geriatric care professionals.
The Maryland-based Senior Helpers is ALCA’s only national in-home care partner, according to the company.
“We are honored to partner with ALCA, the nation’s premier organization for aging science and life care management,” Mike Hughes, vice president of strategic development for Senior Helpers, said in a statement. “We look forward to working with the ALCA and its highly respected membership to elevate the quality of senior care nationwide.”
Senior Helpers’ partnership with ALCA comes less than a month after it announced a separate partnership with security firm ADT.