Catholic Health Initiatives Completes Purchase of Bethesda Inc.'s Consolidated Health Services
Home care services will grow while staying patient-focused
Cincinnati, OH –Bethesda Inc. announced today that it has completed the sale of its subsidiary, Consolidated Health Services Inc., to Denver-based Catholic Health Initiatives (CHI). Consolidated Health Services, a regional provider of home health care and other services, will operate as a separate business unit within Catholic Health Initiatives, the nation's third-largest Catholic health care system. No significant changes to staffing or management are expected. Terms were not disclosed.
Combining Catholic Health Initiatives' existing home care services in 22 markets with Consolidated Health Services' freestanding model will improve clinical outcomes, patient satisfaction, financial performance and accelerate growth.
Consolidated Health Services currently operates in 30 locations in Indiana, Kentucky and Ohio. Catholic Health Initiatives has health care facilities in 18 states, including Ohio and Kentucky.
Catholic Health Initiatives and Bethesda Inc. have collaborated for 15 years as joint sponsors of TriHealth, an integrated health delivery system that operates Bethesda North Hospital, Good Samaritan Hospital, Hospice of Cincinnati, and other physician, employer-based and ambulatory services. Good Samaritan Hospital of Cincinnati is an affiliate of Catholic Health Initiatives. Bethesda Inc. is the parent corporation of Bethesda North Hospital.
"More health services than ever before are being provided outside of hospitals – and this trend will be even more pronounced because of health care reform's focus on costs, efficiency and coordinated care," said Kevin Lofton, president and CEO of Catholic Health Initiatives. "With this new partnership, CHI is well-positioned for the future."
Consolidated Health Services will have a new board of directors as a national business line within Catholic Health Initiatives: Michael Rowan, Chair, executive vice president and chief operating officer, CHI; Paul Edgett, Vice Chair, senior vice president, national business lines, CHI; Doug Wickerham, Treasurer, vice president, financial services, CHI; John Prout, Member, president and chief executive officer, TriHealth, and former board member, Consolidated Health Services; and Dan Dietz, ex officio, president and CEO, Consolidated Health Services.
"This transaction ensures Consolidated Health Services can continue to provide high quality health services to our current customers, while expanding services to new markets under the guidance of our trusted partner," said James Pearce, chairman, Bethesda Inc. "Bethesda Inc. will remain focused on supporting and developing health care initiatives in the Greater Cincinnati region."
The home care services industry is known for creating new approaches for delivering quality care. "Home care services is arguably one of the most efficient and effective care delivery models that exist in the health care system today," said Dan Dietz, Consolidated Health Services president and CEO.
Consolidated Health Services includes American Nursing Care, which provides home health services; Patient Transport Services, which handles patient transportation; AmeriMed, which offers home infusion therapy; and Cornerstone Medical, a joint venture which sells durable medical equipment. It also participates in a number of other joint ventures in the Ohio, Kentucky and Indiana region, including partnerships with Mercy Health Partners and St. Elizabeth Healthcare.
About Consolidated Health Services Inc.
Consolidated Health Services, with heritage dating to 1976, is a large regional provider of home care services. It operates in 30 locations in Indiana, Kentucky and Ohio. The organization became part of Bethesda Inc. in 1984 and has its corporate headquarters in Milford, Ohio, a suburb of Cincinnati. Consolidated Health Services includes American Nursing Care, home health services; Patient Transport Services, patient transportation; AmeriMed, home infusion therapy; and Cornerstone Medical, a joint venture which sells durable medical equipment. It also participates in a number of other joint ventures in the Ohio, Kentucky and Indiana region.
About Bethesda Inc.
Bethesda Inc. has provided comprehensive health care services to the Greater Cincinnati community since 1983 building on the legacy of Bethesda Hospital Inc., founded in 1896. Today, Bethesda Inc. is one of two joint sponsors of TriHealth, an integrated health delivery system that operates Bethesda North Hospital, Good Samaritan Hospital, Hospice of Cincinnati, and several other physician, employer-focused and ambulatory services. Bethesda Inc. also oversees The Bethesda Foundation Inc., which provides support for Bethesda North Hospital and Hospice of Cincinnati.
About Catholic Health Initiatives
Catholic Health Initiatives is a national nonprofit health organization with headquarters in Denver, Colorado. The faith-based system operates in 18 states and includes 73 hospitals; 40 long-term care, assisted- and residential-living facilities; two community health-services organizations and home health services. Together, those facilities provided $900 million during the 2010 fiscal year in charity care and community benefit, including services for the poor, free clinics, education and research. With annual revenues of $8.6 billion, CHI ranks as the nation's third-largest Catholic health care system. It is also one of two joint sponsors of TriHealth.