Universal Health Services, Inc. (NYSE: UHS) and BAYADA Home Health Care (BAYADA) announced today the signing of a definitive agreement to form a strategic partnership. The new joint venture entity will establish and operate Home Health Care services, providing patients with high-quality in-home care services including those to help them recover from an illness, injury or recent hospitalization.
“The partnership with BAYADA enables UHS to significantly expand its home healthcare services and offerings, bringing more care to more patients along the full continuum of care,” said Marvin Pember, Executive Vice President and President, Acute Care Division, Universal Health Services. “The partnership with BAYADA – a leading home health company known for its excellence in patient care – is core to our overarching strategy comprised of primary care, specialty care, hospitals and home care. We do not underestimate the opportunity to create loyalty and trust among our community through seamless continuation of care through in-home services, which will become an even more critical component of the integrated delivery system.”
“Even before the COVID-19 crisis, we have seen a longer-term need to support health systems looking to expand patient care beyond the inpatient setting. By leveraging our 45 years of home health care expertise, we are able to provide care partners with best-in-class service to improve patient outcomes and quality of life through our core values of compassion, excellence, and reliability,” said BAYADA CEO David Baiada. “We are thrilled to partner with a respected provider of hospital and healthcare services like Universal Health Services to help respond to the overwhelming preference to live at home, where patients recover and thrive best.”
Significant growth is expected over the next several years due to the increased demand for in-home, post-discharge services; roughly 10,000 baby boomers turn 65 every day in the United States and over 81 million Americans are managing multiple chronic conditions. Additionally, during the current COVID-19 crisis, the majority of discharged patients require ongoing home-based care to help them recover from the virus, while effectively managing existing chronic conditions. Data from recent studies show that in-home care enables more successful recovery, improved outcomes, and decreases the likelihood of re-hospitalizations and adverse events and their associated costs.
One of the nation’s largest and most respected providers of hospital and healthcare services, Universal Health Services, Inc. has built an impressive record of achievement and performance. Growing steadily since our inception into an esteemed Fortune 500 corporation, annual revenues were $11.4 billion for 2019. In 2020, UHS was again recognized as one of the World’s Most Admired Companies by Fortune; ranked #281 on the Fortune 500; and in 2017, listed #275 in Forbes inaugural ranking of America’s Top 500 Public Companies.
Our operating philosophy is as effective today as it was 40 years ago, enabling us to provide high-quality care to our patients and their loved ones. Our strategy includes building or acquiring hospitals in rapidly growing markets, investing in the people and equipment needed to allow each facility to thrive, and becoming the leading healthcare provider in each community we serve.
Headquartered in King of Prussia, PA, UHS has 90,000 employees and through its subsidiaries operates 26 acute care hospitals, 328 behavioral health facilities, 42 outpatient facilities and ambulatory care access points, an insurance offering, a physician network and various related services located in 37 U.S. states, Washington, D.C., Puerto Rico and the United Kingdom. It acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (NYSE:UHT). For additional information on the Company, visit our web site: http://www.uhsinc.com.
BAYADA Home Health Care was founded by J. Mark Baiada in 1975 and provides nursing, rehabilitative, therapeutic, hospice and assistive care services to children, adults, and seniors in the comfort of their homes. Headquartered in in the Greater Philadelphia suburbs based in New Jersey, BAYADA employs more than 28,000 nurses, home health aides, therapists, medical social workers, and other home health care professionals who serve their communities in 23 states from more than 360 locations, with locations in Canada, Germany, India, Ireland, New Zealand, South Korea, and the United Kingdom. BAYADA is the largest national, nonprofit home health care partner of hospitals and health systems.
In 2018, Baiada oversaw the company’s unprecedented transition to a nonprofit organization to ensure BAYADA’s mission, purpose and business model could endure, and to help BAYADA realize its vision of helping millions of people worldwide experience a better quality of life at home; in 2019, the organization served its one millionth client.
To learn more about BAYADA’s hospital managed services, go to https://www.bayada.com/partnerships
For more information, visit www.bayada.com.