Lafayette, La.-based LHC Group, a national provider of post-acute care, and Christus Health in Irving, Texas, entered a definitive agreement for a joint venture.
Here are six things to know about the joint venture.
1. The goal with the joint venture is "to enhance home health, hospice, long-term acute care services and community-based services" across the states of Louisiana, Texas, Arkansas and Georgia.
2. More than 20 Christus Health service locations will be part of the joint venture. These include seven home health agencies, five hospice programs, two community-based home care services, one inpatient hospice unit and six long-term acute care hospitals, the companies said.
3. Company officials expect the joint venture to be completed by the end of the third quarter.
4. Once the joint venture is completed, the companies said LHC Group will pay to become a majority owner of Christus Health's home health, hospice, community-based home care services and the LTACH facilities. LHC will also take over management responsibilities.
5. No facility name changes are expected with the joint venture.
6. The organizations said LHC Group expects annualized revenue of approximately $80 million from the joint venture.