LHC Group (NASDAQ: LHCG), Texas Health Resources, and Methodist Health System today announced an agreement for DFW Home Health to purchase and share ownership of Healthcare Resources – a home health provider serving patients and families in Arlington, Texas.
DFW Home Health is a separate legal entity jointly owned by LHC Group, Texas Health Resources, and North Texas Health Facilities Management, Inc., a subsidiary of Methodist Health System. The partnership has been in operation since 2012. This acquisition expands the partnership’s footprint to four locations across the Dallas/Fort Worth Metroplex – joining sister locations in Dallas, Fort Worth, and Denton.
DFW Home Health provides in-home healthcare services for 25 hospitals and, in 2019, will provide care for approximately 8,000 patients.
It is anticipated that the agreement will be finalized on January 1, 2020, subject to customary closing conditions, at which time the partnership will assume management responsibility. LHC Group expects approximately $2.4 million in annualized revenue from this joint venture and anticipates that it will not materially affect its 2020 diluted earnings per share. The agency name will change to DFW Home Health Arlington. It will continue to operate from its current location in Arlington.
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Through DFW Home Health, LHC Group, Texas Health Resources, and Methodist Health System work together to help patients regain strength and independence, attain the quality of life they deserve, provide valuable guidance and support, and provide the educational tools and resources that help families make an informed decision when the time arrives to plan for the care of a loved one.
The partnership combines the experience and expertise of three respected healthcare providers, creating new opportunities to develop and expand in-home services in the communities they serve.
“We are encouraged and excited by the continued success of DFW Home Health and the growth of our partnership across the region,” said Keith Myers, LHC Group chairman and CEO. “By helping our JV partners expand their footprint, we help them enhance access to important services and create healthier communities across the country.”
Hospital and home health partnerships focused on delivering patient-centered care in the comfort of the patient’s home are increasingly a key component in helping patients manage their conditions and achieve the best possible health outcome. LHC Group is a leading national provider of in-home healthcare services and the joint venture partner of choice for 350 hospitals across the United States.
Source: GlobeNewswire
