The Villages Health ("TVH") Announces Strategic Restructuring and Agreement to be Acquired by CenterWell
The Villages Health (TVH), a healthcare provider serving The Villages retirement community in Florida, has announced a strategic restructuring including a voluntary Chapter 11 bankruptcy filing and a potential acquisition by CenterWell, a subsidiary of Humana (NYSE:HUM).
The restructuring follows TVH's discovery of Medicare billing discrepancies in Fall 2024, which could result in hundreds of millions in overpayments and penalties. CenterWell has entered a "stalking horse" Asset Purchase Agreement to acquire TVH's eight primary care centers and two specialty care centers. TVH currently serves over 55,000 patients and will maintain normal operations during the transition.
Under the payor-agnostic structure of CenterWell, patients are expected to maintain access to their current healthcare providers regardless of their insurance plans.
The Villages Health (TVH), un fornitore di servizi sanitari che opera nella comunit脿 di pensionati The Villages in Florida, ha annunciato una ristrutturazione strategica che include la presentazione volontaria del Chapter 11 per bancarotta e una possibile acquisizione da parte di CenterWell, una sussidiaria di Humana (NYSE:HUM).
La ristrutturazione segue la scoperta da parte di TVH di discrepanze nelle fatturazioni Medicare nell'autunno 2024, che potrebbero comportare centinaia di milioni in pagamenti in eccesso e sanzioni. CenterWell ha firmato un accordo di acquisto di beni come "stalking horse" per acquisire gli otto centri di cure primarie e due centri di cure specialistiche di TVH. TVH attualmente assiste oltre 55.000 pazienti e manterr脿 le normali operazioni durante la transizione.
Grazie alla struttura indipendente dal pagatore di CenterWell, i pazienti potranno continuare ad accedere ai loro attuali fornitori di assistenza sanitaria indipendentemente dai loro piani assicurativi.
The Villages Health (TVH), un proveedor de servicios de salud que atiende a la comunidad de jubilados The Villages en Florida, ha anunciado una reestructuraci贸n estrat茅gica que incluye la presentaci贸n voluntaria de una bancarrota bajo el Cap铆tulo 11 y una posible adquisici贸n por parte de CenterWell, una subsidiaria de Humana (NYSE:HUM).
La reestructuraci贸n se produce tras el descubrimiento por parte de TVH de discrepancias en la facturaci贸n de Medicare en el oto帽o de 2024, que podr铆an resultar en cientos de millones en pagos en exceso y sanciones. CenterWell ha firmado un Acuerdo de Compra de Activos como "stalking horse" para adquirir los ocho centros de atenci贸n primaria y dos centros de atenci贸n especializada de TVH. Actualmente, TVH atiende a m谩s de 55,000 pacientes y mantendr谩 sus operaciones normales durante la transici贸n.
Bajo la estructura independiente del pagador de CenterWell, se espera que los pacientes mantengan el acceso a sus proveedores de atenci贸n m茅dica actuales sin importar sus planes de seguro.
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The Villages Health (TVH), un prestataire de soins de sant茅 desservant la communaut茅 de retrait茅s The Villages en Floride, a annonc茅 une restructuration strat茅gique incluant un d茅p么t volontaire de bilan en vertu du Chapitre 11 et une acquisition potentielle par CenterWell, une filiale de Humana (NYSE:HUM).
Cette restructuration fait suite 脿 la d茅couverte par TVH d'irr茅gularit茅s dans la facturation Medicare 脿 l'automne 2024, pouvant entra卯ner des centaines de millions de dollars de trop-per莽us et de p茅nalit茅s. CenterWell a conclu un accord d'achat d'actifs en tant que 芦 stalking horse 禄 pour acqu茅rir les huit centres de soins primaires et deux centres de soins sp茅cialis茅s de TVH. TVH dessert actuellement plus de 55 000 patients et maintiendra ses op茅rations normales pendant la transition.
Gr芒ce 脿 la structure ind茅pendante des payeurs de CenterWell, les patients devraient conserver l'acc猫s 脿 leurs prestataires de soins actuels, quel que soit leur r茅gime d'assurance.
The Villages Health (TVH), ein Gesundheitsdienstleister, der die Ruhestandsgemeinschaft The Villages in Florida betreut, hat eine strategische Umstrukturierung angek眉ndigt, die eine freiwillige Chapter-11-Insolvenzanmeldung und eine m枚gliche 脺bernahme durch CenterWell, eine Tochtergesellschaft von Humana (NYSE:HUM), umfasst.
Die Umstrukturierung folgt auf die Entdeckung von Unstimmigkeiten bei der Medicare-Abrechnung im Herbst 2024 durch TVH, die hunderte Millionen an 脺berzahlungen und Strafen nach sich ziehen k枚nnten. CenterWell hat eine "Stalking Horse"-Vereinbarung zum Erwerb der acht Prim盲rversorgungszentren und zwei Fachversorgungszentren von TVH abgeschlossen. TVH betreut derzeit 眉ber 55.000 Patienten und wird den normalen Betrieb w盲hrend der 脺bergangsphase aufrechterhalten.
Durch die zahlungsunabh盲ngige Struktur von CenterWell wird erwartet, dass die Patienten weiterhin Zugang zu ihren aktuellen Gesundheitsdienstleistern haben, unabh盲ngig von ihren Versicherungspl盲nen.
- Acquisition by CenterWell ensures continuity of care for TVH's 55,000+ patients
- Operations will continue without interruption during the transition
- Patients can keep their current providers regardless of insurance plans
- Strategic restructuring aims to preserve and enhance patient care
- TVH faces hundreds of millions in Medicare overpayments and penalties
- Company forced to file for Chapter 11 bankruptcy protection
- Sale subject to court approval and potential competing bids
- Significant Medicare billing practice issues discovered requiring government intervention
Insights
Humana's CenterWell acquiring bankrupt Villages Health amid Medicare billing issues creates strategic value despite financial uncertainties.
This acquisition represents a strategic expansion for Humana's CenterWell division in the lucrative senior healthcare market. The Villages Health's bankruptcy filing stems from serious Medicare billing discrepancies that could result in hundreds of millions in repayments and penalties to the government. Despite these financial troubles, the asset purchase makes sense for Humana, as it gains immediate access to 55,000+ patients in one of America's largest retirement communities without assuming the Medicare liabilities.
The structure as a "stalking horse" bid through bankruptcy proceedings provides Humana significant advantages - they can cherry-pick the valuable assets (eight primary care and two specialty centers) while leaving behind the Medicare billing liabilities. The payor-agnostic approach mentioned is particularly shrewd, allowing CenterWell to maintain patient relationships regardless of insurance carrier, potentially capturing value across multiple Medicare Advantage plans beyond just Humana's offerings.
For Humana, this transaction aligns perfectly with their vertical integration strategy in senior care, adding scale to CenterWell while creating new pathways to manage medical costs and improve care coordination. The timing is opportunistic - acquiring distressed assets at potentially favorable valuations while expanding their senior-focused healthcare ecosystem in a high-density retirement market.
In addition, after extensive negotiations and discussions, CenterWell Senior Primary Care, the nation's largest senior-focused value-based primary care provider, has entered into a "stalking horse" Asset Purchase Agreement with TVH. The agreement provides for CenterWell, the healthcare services business of Humana Inc.,聽to acquire TVH's assets as a going concern, including eight primary care centers and two specialty care centers. A Court order approving the sale, following an auction process during which other parties may submit an offer to purchase TVH's assets, will be a condition of the transaction moving forward and closing. In the meantime, TVH will continue to fully operate its business and manage its affairs without interruption during the sale process, providing high-quality healthcare services to patients during this transition period. Given CenterWell's payor-agnostic structure, TVH patients are expected to have continued access to their current provider following the closing of the transaction, regardless of their selected insurance plan.
"TVH is a clinically excellent healthcare system. We believe this plan of reorganization and planned transaction with CenterWell is in the best interests of our patients, physicians, other clinicians, employees, partners and community members, and will ultimately result in a more promising future," said Dr. Elliot Sussman, Chairman of the Board and physician founder of The Villages Health. "Under CenterWell, this healthcare system will continue to be a leading provider of patient-centered, primary care-driven and community-based healthcare. Our primary goal remains to keep our patients healthy and to heal them quickly, as it has always been from the inception of TVH."
"CenterWell is excited to enter into this agreement with The Villages Health and we look forward to helping TVH patients achieve their best health through our personalized and integrated approach to care," said Sanjay Shetty, M.D., President of CenterWell.
"This was by no means an overnight decision, nor has it been an easy one. We want to reassure our community that there will not be any effects on patient care experienced by our patient population," said Bob Trinh, Chief Executive Officer of The Villages Health."
"We will do everything we can to make this transition as seamless as possible for our community. We are still the same doctors and clinicians caring for our patients," said Dr. Jim Flaherty, Chief Medical Officer at The Villages Health.聽 聽
"The clinicians and staff at The Villages Health share our passion for making sure each patient they see feels cared for and supported as they seek to enjoy a healthy and active lifestyle," said Renee Buckingham, President of CenterWell Senior Primary Care. "We look forward to welcoming the TVH team to CenterWell Senior Primary Care and working together to improve the health of the residents of
TVH is known for providing exemplary, patient-focused healthcare to residents of North Central Florida,
In the Fall of 2024, TVH identified and immediately investigated a potential set of problems with its Medicare billing practices, and based on the results of that investigation, took immediate action on several fronts to report and correct the situation, while also proactively self-reporting the identified billing discrepancies to relevant
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For community questions about this announcement, please direct them to [email protected].
About The Villages Health ("TVH")
The Villages Health ("TVH") is a premier healthcare provider in North Central Florida that operates primary and specialty care centers, helping its patients live healthy lives through a team-based approach to patient care. In addition to primary care, TVH's healthcare providers provide specialty care services in the fields of audiology, behavioral and mental health, cardiology, dietetics, endocrinology, gastroenterology, gynecology, international pain, neurology, podiatry, rheumatology, and urology. For more information, please visit thevillageshealth.com.
About CenterWell
CenterWell is a leading health care services business focused on creating integrated and differentiated experiences that put our patients at the center of everything we do. The result is high quality healthcare that is accessible, comprehensive, and, most of all, personalized. As the largest provider of senior-focused primary care, a leading provider of home healthcare, and a leading integrated home delivery, specialty, hospice, and retail pharmacy, CenterWell is focused on whole health and addressing the physical, emotional and social wellness of our patients. CenterWell is part of Humana Inc. (NYSE: HUM). Learn more about what we offer at CenterWell.com.
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FAQ
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