DispatchHealth partners with two new healthcare systems
Home health care provider DispatchHealth announced partnerships with Eastern Connecticut Health Network (ECHN) and Waterbury Health on Tuesday.
The partnerships revolve around providing same-day home medical care to patients.
Denver-based DispatchHealth partners with healthcare systems and payers to deliver a range of in-home services. The company’s healthcare teams are available seven days a week and help meet patient needs to reduce hospital readmissions and other adverse health events.
ECHN and Waterbury Health are both part of Prospect Medical, which is a national network. Together, they serve over 30 communities across Connecticut.
The partnership with DispatchHealth will theoretically allow each system to better monitor its patients.
Patients can request the services of DispatchHealth at home, but will also have access to its âBridge Careâ service. Bridge Care helps identify gaps in care and move patients from one point of care to another.
âDispatchHealth is redefining what is possible for a patient’s healthcare journey,â DispatchHealth CEO Dr. Mark Prather said in a press release. âWe believe healthcare systems view our unique service offerings as a way to extend their reach to even more patients. We are delighted to partner with ECHN and Waterbury HEALTH to deliver the high quality care patients have come to know through these two health systems, but with the proven convenience of effective home care.
The LHC group acquires several palliative care establishments
LHC Group Inc. (Nasdaq: LHCG) announced Tuesday that it has agreed to buy Fruitland, Idaho, Heart ‘n Home Hospice.
Heart ‘n Home also has sites in Oregon, which means the acquisition will mark the LHC Group’s initial entry into hospice care services in the state. It is also expanding its existing hospice footprint in Idaho.
The 30,000 employees of the LHC Group, based in Lafayette, Louisiana, provide home care, palliative care, and home and community services (HCBS) to patients in 35 states and the District of Columbia. It also has joint venture partnerships with nearly 400 hospitals and healthcare systems in the United States.
The acquired suppliers will continue to operate under their original names; the deal is expected to close on July 1. The LHC Group expects annualized revenue from the purchase to be around $ 20 million, according to a press release.
âThe need for quality, compassionate hospice care is greater than ever, and Heart ‘n Home Hospice has played a vital role in this region with a mission and vision consistent with our core values,â Keith Myers, President and CEO of the LHC group, said in a press release. âThe LHC Group looks forward to welcoming new members of its family to the Heart ‘n Home Hospice as we join forces to help patients and families through the difficult times associated with end-of-life care.â
The LHC group also announced last week that it had agreed to buy two sites from Casa de la Luz, a palliative care provider based in Tucson, Arizona.
This deal is also expected to be concluded on July 1.
This acquisition is part of the company’s strategy to develop the three segments of its business – home health, palliative care and HCBS – in each market it serves.
Traditions Health acquires two agencies
College Station, Texas-based Traditions Health continues to expand its home and hospice care network, this time announcing the acquisitions of Area Community Hospice and AmeraCare Family Hospice and Home Health.
Area Community strengthens Traditions Health’s footprint in Texas, with locations in both Plainview and Lubbock. On the AmeraCare side, it has locations in the greater New Orleans area, which will help complement the existing locations Traditions Health maintains in Louisiana.
Backed by private equity firm Dorilton Capital, Traditions is a provider of palliative and home care, as well as advisory services. The company serves more than 5,000 patients in 14 states.
âI am extremely pleased to further expand the care of Traditions in Texas and Louisiana,â said David Klementz, President and CEO of Traditions, in a press release. âThis is a great accomplishment for our organization, and we couldn’t be happier to welcome the employees and patients of Area Community and AmeraCare to the Traditions family.
Traditions Health has been very active in M&A so far in 2021. It had already acquired a handful of agencies this year before the announcement of the Area Community and AmeraCare transactions.
DailyPay raises $ 500 million in funding
DailyPay, a New York-based company that facilitates a quick payment relationship between employer and employee, has raised $ 500 million in capital. This funding comes from $ 175 million in a Series D funding round led by Carrick Capital Partners, in addition to $ 325 million in credit capital raised from multiple sources.
Overall, DailyPay’s tools allow home care providers, for example, to pay employees faster so they can access the money they’ve earned when they need it most. These tools have helped suppliers compete for and retain workers.
âSince 2016, we’ve partnered with world-class employers to empower their employees to access or save their pay as they earn it,â said Jason Lee, CEO and Founder of DailyPay, in a press release. âThe initial application of our unique technology platform was to redefine the way money flows between employers and their employees. [â¦] This platform allows us to create a new financial system by rewriting the invisible rules of money. “
DailyPay is also expanding its platform beyond the simple employer-employee relationship, by also venturing into the consumer-merchant relationship.
âWe have seen the explosion of the pay-on-demand industry and how DailyPay has been the category leader,â said Jim Madden, co-CEO of Carrick Capital Partners. âWe have chosen to invest in DailyPay now because we believe they are just starting to respond to the huge opportunity they have to provide on-demand payment solutions to global businesses.â
Right at Home joins Moving Health Home
The Right at Home home care franchise has joined the Moving Health Home (MHH) coalition, which was formed in March to advocate for home care in the United States.
Specifically, the Washington, DC-based MHH was built to fight for more favorable legislation from lawmakers.
The coalition currently includes other home care franchise systems such as BrightStar Care, based in Chicago, and Home Rather Senior Care, based in Nebraska. Additionally, it includes Amazon Care (Nasdaq: AMZN), Landmark Health, Signify Health (NYSE: SGFY), DispatchHealth, Elara Caring, Intermountain Healthcare, Ascension, and Amwell (NYSE: AMWL).
Based in Omaha, Nebraska, Right at Home has 650 group franchises in the United States and seven other countries.
âRecognizing that we are in a consumer-driven industry, where aging adults want to be at home, we are encouraged to see coalitions like MHH focused on ensuring that care can be delivered where the patient is most needed. at ease, resulting in improved satisfaction and results â. Brian Petranick, president and CEO of Right at Home, said in a press release.