Plano-based LHP Group Inc. (formerly Legacy Health Partners) is on a roll. The company has taken occupancy of a new 41,000-square-foot headquarters at 2400 Dallas Pkwy. in Plano, after expanding twice in its previous location. It now has 60 employees—double what it had in January. The new office can accommodate up to 120 employees.
It closed a deal this month on a joint venture with Hackensack (N.J.) University Health Network to take over ownership of Mountainside Hospital in Monclair, N.J. The two partners previously had HackensackUMC at Pascack Valley.
In June, LHP opened a new 83-bed facility with Austin-based Seton Family of Hospitals in Bell County, competing directly with renowned Scott & White.
And in May, the company finalized a 40-year lease and asset purchase with Sacred Heart Health System in Panama City, Fla., to lease and operate a 323-bed Bay Medical Center.
LHP is a privately held company that creates joint ventures with not-for-profit hospitals and hospital systems. It acquires majority ownership of healthcare companies and facilities, installs local leadership, and provides expertise behind the scenes.
CEO Dan Moen told D Healthcare Daily that LHP is pursuing two kinds of joint-venture partners: Sole community hospitals that need capital to expand or survive, or hospitals in urban or suburban areas that are part of a network. Read Editor Steve Jacob’s in-depth report.