Harborside Healthcare enters home healthcare market
Harborside Healthcare, which maintains six skilled-nursing and long-term care facilities in New Hampshire, announced today it intends to acquire Physician’s Health Care in Quincy, Mass. The purchase marks the initial foray into the home health-care industry for Harborside Healthcare.
“It is an exciting opportunity,” said Harborside CEO Damian Dell’Anno. “Our success is based on our ability to improve the lives of the patients who rely on us and to meet the health care needs of the communities we serve. Physician’s Health Care will form the nucleus of our expansion into a range of health services to complement our core business of long-term care.”
“Harborside is an ideal partner,” said PHC co-founder John Talbot. “Harborside and PHC share the belief that companies have a responsibility to offer and deliver high-quality, low-cost services to the health-care community.”
Founded six years ago, PHC provides physician-directed medical, rehabilitation and behavioral services to patients in their own homes. The in-home care offers an effective low-cost, high-quality alternative to patients and their families, allowing them to remain in their homes while receiving treatment.
Under the agreement, Talbot and co-founder Dr. Timothy Lowney will maintain 25 percent ownership of the company. PHC will continue to operate as Physician’s Health Care and remain a separate health-care provider.
According to Harborside officials, approximately 50 percent of the 16,000 discharges from Harborside long-term care facilities are discharged with home-health services. While PHC’s primary market is in Eastern Massachusetts, Harborside hopes to introduce PHC to other communities Harborside currently serves allowing a continuum of care.
Founded in 1987, Boston-headquartered Harborside Healthcare operates 53 facilities in nine states throughout New England, the Mid-Atlantic and the Midwest. The company employs 8,000 people and provides care for nearly 7,000 patients. —TRACIE STONE