Compassus is launching a home health and hospice joint venture with Ohio-based Bonn Securities Mercy Health (BSMH).
Through the joint venture, Compassus will manage the operations of 11 hospice agencies and 10 home health facilities across five states. BSMH is the fifth largest Catholic health system in the United States, and the health system's 60,000 employees are served through more than 1,200 care facilities in seven states, including 48 hospitals, according to a joint press release from the two organizations. is provided.
“As the dynamic healthcare environment continues to evolve, we want to keep patients at the center of everything we do, and finding the right partner for this important and specialized work is critical to ensuring that care continues through the end of life. It was essential to our continued success in the future,” Don Kleine, BSMH's chief operating officer, said in a statement. “We are confident that we have identified a mission- and vision-aligned partner in Compassus that will help us realize our important commitment to care for patients at every stage of life.”
BSMH and Compassus will each hold a 50% stake in the joint venture. Under the agreement, BSMH will maintain ownership of existing Hospice House real estate assets at certain locations, and Compassus will manage operations. Additionally, several employees of the privately held health system will be transferred to work at Compassus.
Completion of the joint venture is subject to customary regulatory approvals.
BSMH has many similar operations to other companies covering various aspects of business. The home health and hospice provider's CEO, David Grams, said discussions about a potential partnership with Compassus began by discussing the missions and goals of both organizations. Leaders from both companies were familiar with each other prior to these initial conversations.
“There is a recognition on the part of healthcare providers that they need to increase access, improve clinical outcomes, and better manage resources. These partnerships build on these objectives,” Grams told Hospice News. told. “And we also look at what integrated home care can do for the ecosystem. In any local health system ecosystem, that way you can create a feedback loop so that next time care is better. You can create patient loyalty when you need it.”
Compassus is a Tennessee-based hospice, home health, palliative care and infusion company that employs more than 6,000 people and serves more than 100,000 patients annually from more than 250 locations in 29 states. Masu. Compass has similar partnerships, including a joint venture with Ascension Health under the brand Ascension at Home, which expanded in October 2023.
The company is also in discussions with other health systems about possible future joint ventures, Graham said.
“We are in discussions with other organizations and are excited about the continued opportunity to partner with additional health systems to accelerate their success in the world of value-based care,” Grams said. Stated.
