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Including health, Saint Alphonsus announces a joint venture
Health Corp. includes. (NYSE: EHC) and Saint Alphonsus Health System a new joint venture in Idaho. The deal closed on January 1.
The new joint venture includes home health and hospice sites at St. Alphonse in Boise, Idaho. It also includes the Encompass Health Home Health and Solidarity site in Boise and Nampa, which are also located in Gem state.
“We look forward to working collaboratively with St. Alphonse Health System to work together as a compassionate and transformative therapeutic presence within our communities,” Barb Jacobsmayer, President and CEO of Incompass Health, Home Health and Aged Care Services, said in a statement. “This joint venture brings together the expertise and resources of Encompass Health, one of the largest providers of home health and aged care services in the country, with trusted healthcare provider Saint Alphonsus, with more than four decades of home health service in Idaho.”
The overall health footprint includes 145 hospitals, 249 home health sites, and 95 seniors’ sites in 42 states and Puerto Rico.
The Birmingham, Alabama-based company is currently spinning off the home health and rehabilitation segment into its general business venture, though some investors have urged the organization to consider instead a third-party merger.
The recently announced joint venture complements a joint venture between Incompass Health and the nonprofit Saint Alphonsus founded in 2019.
“We have an existing joint venture with Encompass Health for inpatient rehabilitation services, and we are excited to create a new joint venture with Encompass Health as a valuable provider of home health and hospice care services in Idaho, with a proven ability to provide high quality, cost-effective care while avoiding recurrence. Unnecessary hospitalization,” noted Odette Bolano, President and CEO of Saint Alphonsus.
Home care organizations combine operations
The Corporation for Public Health Management (PHMC) has announced its intent to join the Visiting Nurses Association of Greater Philadelphia, the region’s oldest and largest nonprofit home health, hospice, and care organization.
As part of this transaction, the nonprofit PHMC will acquire Philadelphia Home Care (PHC), the parent company of VNA in Greater Philadelphia. She will also manage the Visiting Nurses Association (VNS), a supportive organization for VNA.
PHC, VNA and VNS will become subsidiaries of PHMC pending all final legal and regulatory approvals.
“PHMC is committed to the VNA’s mission and long legacy of providing comprehensive home health care, palliative care and end of life of the highest quality to individuals in our region,” Richard J. Cohen, President and CEO of PHMC, said in a newspaper. Release. “We have a strong team to ensure a smooth transition as we align VNA services with existing PHMC programs and enrich continuity of care for our joint organization.”
Going forward, PHMC will integrate VNA into its portfolio of programs and affiliates.
According to the press release, the relationship will “align with VNA within PHMC’s Integrated Health Services suite” and provide “software integration and referral opportunities between organizations.” This includes PHCC’s network of six federally qualified health centers and its medical convenience programs for individuals experiencing homelessness.
With more than 3,000 employees, PHMC serves hundreds of thousands of individuals each year.
“VNA is excited to join the PHMC Foundation,” said Marie Zajesky, interim CEO of VNA. “Partnering in this way with an organization that has the strength and stability of PHMC is key to VNA’s ability to fulfill our mission to serve our communities and expand our reach.”
Major VNA service lines in Greater Philadelphia include a home health segment serving approximately 700 patients, as well as a home hospice care program serving approximately 120 individuals. It also has an inpatient unit with a capacity of 15 beds.
Better Choice Home Care Agency . Acquires Better Choice Home Care Agency
The Institute on Aging (IOA) has acquired A Better Choice (ABC) home care agency. Both organizations are located in California.
IOA has acquired ABC Home Care via a “unique form of donation,” according to a joint press release.
“ABC Home Care’s mission has always been to increase convenience, ensure safety, and preserve the independence of California’s most precious resident: our seniors,” explained Mary Ann Thode, president and CEO of ABC. “I could not be more confident in an institution to continue – and live – our mission than in the Institute on Aging.”
By adding ABC Home Care, IOA is expanding both its footprint and ability to serve seniors in more areas and homes throughout California’s Contra Costa County.
All ABC Home Care employees have joined the IOA as part of the transition. Customers will continue to receive their expected services.
“Adding these home care clients, staff, and services is a natural extension of IOA’s commitment to care, and clients can expect a smooth, uninterrupted transition to the services they currently receive,” said Tom Preody, President of IOA.
Founded in 1973, IOA is one of California’s largest community nonprofit organizations serving seniors and people with disabilities. The organization serves about 20,000 seniors and families each year.
Jet Health buys Blessings Hospice
Jet Health has announced the acquisition of Blessings Hospice in Arlington, Texas for an undisclosed amount, strengthening its presence in an increasingly competitive market. The deal expands the company’s presence in its original state.
This transaction marks the eighth comprehensive acquisition of Fort Worth-based Jet Health — and the fifth with Hospice Care — since its founding in 2016.
“This acquisition will expand our presence throughout Texas, which is home to not only our headquarters, but also five additional locations where we currently operate, providing home health and aged care services,” said Jet Health CEO Stacey Bratcher. . “We will seamlessly integrate Blessings Hospice into our thriving network as we continually strive to make a difference to more lives through our service offerings.”
Funding for the latest Jet Health transaction was provided by SV Health Investors and Health Enterprise Partners, while Stradling Yocca Carlson & Rauth acted as legal counsel.
Founded in 2016, Jet Health operates in Texas, New Mexico, Colorado, and Idaho.
SimiTree acquires Imark Billing
SimiTree has acquired Miami-based Imark Billing in a strategic expansion of revenue cycle management services. The financial terms of the deal were not disclosed.
Recently formed after combining Simione Healthcare Consultants and BlackTree Healthcare Consulting in May, SimiTree offers a range of clinical, financial and operational services to post-acute care providers.
Imark Billing provides billing, coding and consulting services to home health and solidarity agencies nationwide. The company was founded in 2003 by CEO Lyn Laparta, who will move to a leadership position at SimiTree.
“We are excited to bring in a skilled team at Imark Billing, with an impressive track record of supporting clients in achieving their financial goals,” said Mike Freitag, Managing Director of SimiTree in a press release. “This move will provide the scalability that SimiTree needs to meet the growing industry need for our services as we approach 2022.”