The Pennant Group Inc. (Nasdaq: PNTG) announced that a subsidiary of Cornerstone Healthcare Inc. — its home health and hospice portfolio company — has agreed to form a home health joint venture with San Diego-based Scripps Health, a nonprofit health system.
The deal is expected to be finalized in the third quarter of 2020.
The Pennant Group is a holding company of independent subsidiaries that provide services to 64 home health and hospice agencies, plus 52 senior living communities. The company operates across 13 states.
A spinoff of The Ensign Group (Nasdaq: ENSG), Pennant itself officially went public on Oct. 1, 2019, with great aspirations of forthcoming home health expansion in mind.
“We are thrilled to partner with Scripps to expand our collective capabilities to provide exceptional home health services to the residents of San Diego,” Daniel Walker, Pennant’s president and CEO, said in a statement. “As the post-acute landscape continues to shift and we see a stronger trend toward value-based payment reimbursement models, it is critical that we work closely with integrated health systems like Scripps to help patients and their families navigate the various care settings in the post-acute care continuum.”
The joint venture will be managed by a Cornerstone affiliate, which will help launch the partnership and eventually provide home health services to patients in San Diego.
In January, Pennant announced Cornerstone’s acquisition of the Clark County, Nevada-based Desert View Home Health, which became Comfort Home Health and Hospice.
“As health care continues to change nationally and in San Diego, we believe home care and monitoring will play an even greater role in our patients’ overall care,” Chris Van Gorder, president and CEO of Scripps Health, said in a statement.
Prepared Health rebrands
Chicago-based Prepared Health, a company that helps hospitals connect and collaborate with the post-acute providers taking care of their patients following discharge in real time, has rebranded to Dina.
The rebrand coincides with an effort to emphasize the company’s AI-powered care coordination platform. Dina comes from the name of its digital assistant, which “collects and analyzes patient assessments from the home and community,” according to the company.
The company is connected to 750 sites of care in the U.S. and aims to reduce readmission rates, reduce unnecessary ER visits and boost caregiver productivity.
Moorestown, New Jersey-based Bayada Home Health Care is among Dina’s partners.
“Partnering with Dina has allowed us to proactively care for seniors in the Philadelphia market,” David Baiada, CEO of Bayada, said in a statement. “With Dina, we are able to identify patients who require timely interventions and empower them to live independently in their homes and communities.”
Landmark partners with HealthTeam Advantage
Landmark has partnered with HealthTeam Advantage to deliver in-home medical care to Medicare Advantage members living with chronic conditions.
Landmark — the affiliated medical group of Landmark Health — partners with health plans and delivery systems to provide in-home care to more than 100,000 lives across 14 states.
“We refer to these members as our most vulnerable and have asked Landmark Health to partner with us to bring doctors, nurse practitioners, and other health professionals to members’ homes to help keep them well and out of the emergency room and hospital,” Dr. David Grapey, HTA’s chief medical officer, said in a statement.
Greensboro, North Carolina-based HTA is a health insurance plan founded in 2016 that offers Medicare Advantage plans to eligible beneficiaries throughout North Carolina.
Home Care Pulse merges with In the Know
Rexburg, Idaho-based Home Care Pulse, a data analytics company serving home care agencies, announced that it would be merging with the online caregiver training platform In the Know.
The merger gives the company the ability to now provide relevant data as well as actual solutions to agencies. Founded in 1998, In the Know has worked with over 6,000 organizations to help train, engage and retain caregivers.
Home Care Pulse surveys over 15,000 clients and caregivers monthly.
“As regulatory oversight increases and caregiver retention continues to be a major challenge in the senior care industry, a robust training platform is no longer a ‘nice-to-have’ — it’s critical to business success.” Linda Leekley, CEO of In the Know, said in a statement.
Leekley also added that she is excited to join Home Care Pulse because she believes it will amplify In the Know’s training programs.
RSVP Home Care partners with Pediatric Home Service
RSVP Home Care and Pulmonary Partners has announced a partnership with Pediatric Home Service, a Minnesota-based home care provider.
Pediatric Home Service provides pediatric home health services in both Minnesota and Wisconsin. The partnership enters RSVP, already active in Kentucky, Ohio and Indiana, into two new states in the Midwest.
The agreement was facilitated by Vertress, an M&A advisory firm.