VNA of Cape Cod to Acquire Vineyard Nursing Association
The nationally recognized Visiting Nurse Association of Cape Cod has entered into an agreement to acquire the Vineyard Nursing Association, in order to provide services on Martha’s Vineyard and Nantucket. The two non-profit organizations have executed a letter of intent outlining the VNA of Cape Cod’s proposal to acquire the assets of Vineyard Nursing Association.
“Patients will see a seamless delivery of care,” said Dianne Kolb, President and CEO of the Visiting Nurse Association of Cape Cod. “We are excited to join the Martha’s Vineyard and Nantucket communities, and look forward to a long and rewarding partnership with patients, providers and community leaders.”
The Visiting Nurse Association of Cape Cod, a member of Cape Cod Healthcare, serves patients from Marshfield to Provincetown, and now, with the consummation of this new agreement, would add the Islands to its geographic area. The VNA of Cape Cod’s nurses, therapists, home health aides and staff currently provide more than 300,000 home health and hospice care visits annually. The agency also offers screenings, immunizations and wellness programs through its public health initiative.
Vineyard Nursing Association is the only Medicare-certified agency providing home health services to the island communities. The agency has provided high-quality care to home health patients on the islands for the last 30 years. With declining census, reductions in Medicare reimbursements and new, stricter Medicare patient eligibility guidelines, the agency sought a partner to ensure continuity of quality home care services for its patients.
Late in 2013, when the financial picture became more acute, Vineyard Nursing Association board and management approached the VNA of Cape Cod to explore the possibility of joining forces.
“The stellar reputation and top quality services the VNA of Cape Cod provides make it a good fit for Martha’s Vineyard and Nantucket,” said Vineyard Nursing Association board chair Michael Goldsmith. “We are confident that patients and members of the community will experience the same high level of services they have received from the Vineyard Nursing Association for the last 30 years. The VNA of Cape Cod is, like us, a community-based operation, but also has the experience and the resources to address changes in the rapidly evolving homecare market, as well as the financial wherewithal to insure quality care on the Islands for the long term.”
Under the terms of the letter of intent, following a period of review of Vineyard Nursing Association’s assets and operations, and the completion of applicable regulatory filings and procedures, the VNA of Cape Cod will acquire Vineyard Nursing Association’s unrestricted assets, including the agency’s present building.
Once the transaction is complete, the VNA of Cape Cod will also assume management of Vineyard Nursing Association and will conduct an operational review and assessment of the business.
“Our VNA team provides high-quality, evidence-based care to home health and hospice patients in our region,” said Michael Lauf, President and CEO of Cape Cod Healthcare. “Island residents can now look forward to the same level of services our team provides in the other 29 towns in our service area.”
The VNA of Cape Cod brings years of experience and skill to the island communities. It has been named to the HomeCare Elite™ list of top 500 agencies in the U.S. every year for the past three years, and has been named to the list of top 25 percent of home care agencies for the past eight years. The annual HomeCare Elite ™ list is a compilation of the top performing home health agencies in the country and is the only performance recognition of its kind in the home health field. The list is co-sponsored by National Research Corporation and by DecisionHealth, the publisher of the industry’s most respected independent newsletter, Home Health Line.
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