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.
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.