Oregon Approves Compassus-Providence Home Health JV With $30M Investment Commitment
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The approval allows Compassus to acquire a 50% stake in Providence’s home health and hospice business in Oregon through the joint venture branded as Providence at Home with Compassus.
Oregon Health Authority has approved the proposed joint venture between Compassus and Providence Health System for home health and hospice operations in Oregon, subject to multiple conditions tied to service access and community care commitments.
The approval allows Compassus to acquire a 50% stake in Providence’s home health and hospice business in Oregon through the joint venture branded as Providence at Home with Compassus.
The partnership was initially established in 2024 and later expanded across multiple states. Oregon required a separate review under the state’s Health Care Market Oversight program before the transaction could proceed locally.
According to the Oregon Health Authority, the conditions attached to the approval are intended to ensure the deal serves the public interest, particularly in medically underserved and rural communities.
Under the agreement, the joint venture will invest $30 million over five years into Oregon home health and hospice operations to sustain services statewide. The companies are also required to continue Providence Home Health & Hospice community benefit programs, including grief support services for families of children receiving hospice care and whole-person care initiatives for patients with serious illnesses.
Compassus will manage Providence’s home-based care operations under the partnership, while both organizations will retain equal ownership stakes.
The joint venture includes 24 home health locations across four states and 17 hospice and palliative care sites spanning Alaska, California, Oregon, Texas, and Washington. It also includes private duty nursing services in Southern California.
Compassus, backed by TowerBrook Capital Partners and Ascension Health, provides home health, hospice, palliative care, and home infusion services across 30 states. The company employs approximately 7,000 workers and serves more than 120,000 patients annually.
Providence operates 51 hospitals and approximately 1,000 clinics across seven states, with a workforce of roughly 38,000 nurses and 34,000 physicians.
The transaction drew scrutiny during the review process, with the Oregon Health Authority receiving more than 250 public comments. According to the agency, some current and former employees raised concerns about potential impacts on care quality, rural healthcare access, and the prioritization of profits within the new venture.
State regulators said the final conditions were developed after reviewing public input, conducting market analyses, and consulting external advisors.
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