Two home-based care providers – Compassus and the Pennant Group (Nasdaq: PNTG) – have expanded their JV portfolios this week.
On Wednesday, Compassus and Ascension announced the expansion of their Tennessee-based home health partnership, which is dubbed Ascension Saint Thomas at Home.
Subsequently, Ascension Saint Thomas at Home’s service area now covers 17 Tennessee counties in the mid and west parts of the state.
“We are fortunate to have found a great partner in Ascension and are proud of the partnership we’ve formed and its impact on expanding home-based care access in many communities,” Compassus CEO David Grams said in an email to Home Health Care News. “Since initially partnering with Ascension Saint Thomas in Tennessee last October, our goal has been to provide home health care for more Tennesseans. We’re grateful to be expanding that partnership and will continue to look for opportunities to bring sought-after home-based care services to more communities.”
Compassus is one of the largest home-based care providers in the country. The Brentwood, Tennessee-based company provides home health, hospice, palliative and home infusion services across more than 250 locations in 29 states. It is backed by the private equity firm Towerbrook Capital Partners and Ascension.
On its end, Ascension is one of the largest private health care systems. The organization’s portfolio includes 250 sites of care, 13 hospitals and a network of JVs, medical practices, clinics and specialty facilities.
Compassus and Ascension Saint Thomas first rolled out their JV partnership last October in eight counties.
“Our partnership with Ascension allows us to reach more people in need of home-based care,” Grams said. “While both of our organizations are adept at offering this care on our own, by joining forces we are able to ensure patients across the continuum have access to the right care at the right time by identifying those who could benefit from the care earlier on in their journey. Additionally, we gain the additional support of the clinical and operational teams who work together to achieve shared objectives supporting patient experience and quality of care.”
The Pennant Group enters health system JV
The Pennant Group has formed a home health JV with John Muir Health. The two companies officially closed on the partnership on Jan. 1, 2024.
John Muir Health is a nonprofit integrated health system that serves communities across San Francisco’s East Bay region.
Eagle, Idaho-based Pennant is a holding company of independent operating subsidiaries located across the U.S., with a network that includes 99 home health and hospice agencies and 51 senior living communities.
As part of the JV, the two organizations will offer skilled nursing, therapy, home health aide and medical social work services across the Bay Area. The JV will operate under the name Muir Home Health.
“We are thrilled to begin operating this joint venture,” Pennant CEO Brent Guerisoli said in a press release. “Muir Home Health will bring together the deep experience of one of the Bay Area’s premier health systems with Pennant’s deep experience in managing and supporting the delivery of life-changing home health services. This collaboration will create a unique continuum of care that will benefit Bay Area residents for many years to come.”
On its end, John Muir Health will contribute its home health business to the JV, which will be majority-owned and managed by a Pennant subsidiary. Meanwhile, Pennant Services Inc. will provide operational and administrative support services for the JV.
“We selected Pennant because of their established track record for providing high-quality home health care and commitment to customer service and their employees,” John Muir Health President and CEO Mike Thomas said in the statement. “Our new joint venture will expand access to home health care in the area and enable deployment of care pathways, the latest protocols, and best practices developed by Pennant through operation of its home health agencies nationwide.”
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