Universal Health Services and Bayada Home Health Care signed a definitive agreement to form a strategic partnership that will establish and operate home health services, the organizations said July 16.
Five things to know:
1. The partnership would create a new joint venture entity.
2. By partnering with Philadelphia-based Bayada, King of Prussia, Pa.-based UHS would significantly expand its home healthcare services and offerings.
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3. The home health space is expected to see significant growth in the next several years as demand for in-home, post-discharge services rises.
4. The organizations said the pandemic has exacerbated this demand as discharged COVID-19 patients require ongoing home-based recovery. The organizations said demand also continues to increase for at-home management of chronic conditions.
5. Financial details of the proposed partnership weren’t disclosed.
Source: Becker’s Hospital Review