The joint venture between LHC Group (NASDAQ: LHCG) and Christus Health has acquired a hospice provider in Texas. The home health giant and non-for-profit health system added Santa Rosa Hospice, a hospice provider in the San Marcos metro area, which includes the Austin market.
Once the agreement is finalized, the LHC Group and Christus partnership will include 22 home health, hospice, palliative care, community-based and long-term acute care locations across three states. The deal is expected to close on November 1, 2020. No terms were disclosed.
LHC Group and Christus first partnered up in August 2017, according to search results in the HealthCareMandA.com Deal Database. The two companies took joint ownership of Christus’ seven home health agencies, five hospice programs, two community-based home care services, one inpatient hospice unit and six long-term acute care hospitals. Equal representation from both companies comprise the joint venture’s board.
Joint ventures are something LHC is familiar with. The company has a large one with Lifepoint Health, which has made five acquisitions since it formed in 2016. In 2018, the JV reported three deals in the southeastern United States, and then two more in 2019, including one in December 2019 and one back in November 2019.