CareSouth Inks Joint Venture with LCS
July 3, 2013
FOR IMMEDIATE RELEASE
WASHINGTON, DC--Capitol Partners, a middle market focused private equity firm, has announced that portfolio platform company CareSouth Health System and LCS, a national leader in senior lifestyle services and senior living community development and management, have entered into partnership partnership in Health at Home, An LCS Company. CareSouth will manage the operations of the existing 17 Health at Home locations in 11 states, currently serving over 1,400 clients.
According to T.J. Jubeir, managing partner of the private equity fir"We are excited about this partnership in which the best-of-breed members of their respective segments of industry partner up to deliver the highest quality of care to the community in a seamless way."
"We sought out a partner with similar values to better position our home care services for the future, and we found that partner in CareSouth,” says Ed Kenny, President/Chief Executive Officer of LCS. “There is a strong cultural compatibility between our companies, as we are both passionate about positive care outcomes and personalized customer service. In addition, CareSouth brings an exceptional depth of information technology resources and robust clinical care and educational programs to the equation.”
Rick Griffin, President and Chief Executive Officer of CareSouth, says, “At CareSouth, we believe it is important to align with high quality partners whose philosophies and values are similar to ours. LCS is the perfect partner for us. They strive, at all times, to put their residents first, just as we strive to put our patients first. They are innovative in senior living, just as we are innovative in non-acute health care. With each coming senior generation, we see a greater need for the availability of different levels of medical care and integration of medical information, delivered in a coordinated manner, both inside and outside of senior living settings. CareSouth’s partnership with LCS will provide that higher level of coordinated care within the senior living settings provided by LCS. We are extremely excited about this opportunity to partner with LCS for the benefit of the seniors we both serve.”
CareSouth owns or manages 27 Medicare-certified home health agencies and five private duty offices with 56 locations in seven states. In addition to home care services, CareSouth provides hospice, physician housecall, outpatient rehabilitation and wellness services.
“Our current customers will continue to receive services under the Health at Home brand,” notes Kenny. “We’re excited about the expanded options that are forthcoming with the CareSouth Advantage, which brings the latest in technological advances to health care such as telehealth remote monitoring. Their exceptional disease management and education programs, Heartwise and Breathwise, also bring added value to clients and caregivers alike.”
For further information, contact Capitol Partners at 202.955.7960.