Long-term care hospitals in Michigan and around the country provide treatment for people who have what are considered "complex conditions" that require more than a few weeks of care for an illness or injury. These facilities provide such things as respiratory therapy, wound and head trauma care, and various types of rehabilitation. Many patients spend time in long-term acute care facilities after being released from an intensive care unit in a hospital.
Oakwood Healthcare, which runs Oakwood Hospital-Taylor, has set aside a floor of the hospital for long-term care services, and has leased it to a company called Select Specialty Hospitals, LLC. That Mechanicsburg, Pennsylvania, company runs approximately 10 such facilities in Michigan. Now Oakwood, which is headquartered in Dearborn, has announced a five-year agreement with Vibra Healthcare, another Mechanicsburg business, to run a long-term acute care facility on one floor of that hospital, as well as another one at Vibra Hospital Lincoln Park. Vibra Healthcare plans to have a total of 92 beds between the two facilities.
A Vibra executive noted Oakwood's "strong clinical services" as a reason for the deal. An Oakwood official says the partnership should allow them to provide "very cost-effective" care for patients who need extended acute care after their stays at Oakwood hospitals and other medical facilities. Vibra runs close to 100 specialty hospitals as well as physical therapy units throughout 18 states. The new partnership will also have a positive effect for employment in southeastern Michigan, with at least 160 jobs anticipated.
This is just the latest expansion of services for Oakwood's Taylor facility as it moves into specialty services that include everything from pain management to hyperbaric oxygen services, to treating sleep disorders. It has also expanded its surgical services and added an orthopedic center that includes specialized joint and bone care, and handles hip and knee implant surgeries. That expansion reportedly cost over $30 million.
Executives that are part of ever-changing industries like health care are always on the lookout for new partnership, acquisitions and mergers that will help them grow their business. These deals can be quite lucrative, but generally involve a good deal of legal and regulatory elements that must be handled properly in order to avoid fines and litigation. Business attorneys can help to ensure that these elements are handled appropriately so that the business owners can focus on expanding their company.
Source: Crain’s Detroit Business, "Oakwood Healthcare signs joint venture deal with Vibra Healthcare for 2 long-term acute care facilities" Jay Greene, Feb. 14, 2014