LHC Group has entered into a joint agreement with a health care agency in Georgia and South Carolina.
The Lafayette-based home health company announced signing a definitive agreement with Augusta, Georgia-based University Health Care System in a deal that includes three University Health home health providers, three University Health home health branches, two LHC Group home health providers, and two LHC Group hospice providers, according to a statement released earlier this week.
The joint venture is expected to be finalized Oct. 1.
“We are pleased to join our new partners at University Health in announcing plans to expand the availability of vital healthcare services in the states of Georgia and South Carolina,” said Keith G. Myers, LHC Group’s chairman and CEO. “With our combined experience and infrastructure, we will be able to offer more families and patients the high-quality, efficient, and effective in-home healthcare and hospice services they deserve.”
Once the deal is final, LHC Group will purchase majority ownership and manage the venture. It expects incremental annualized revenue from this joint venture of approximately $8.3 million and that it will not materially affect its 2020 diluted earnings per share.
The agreement helps University Health Care System to ensure the long-term sustainability of high-quality home health and hospice services to the communities it serves, said James R. Davis, University Health Care System president and CEO.
“This partnership combines the expertise and experience of two high-quality medical providers, creating new opportunities to further develop and expand our in-home healthcare services to include hospice, completing University’s continuum of care,” Davis said. “The great success LHC Group has demonstrated with other partnerships has shown us that their focus on in-home medical services will move the safe, quality, and compassionate care University is known for to the next level.”