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Jefferson Health explores joint venture to fuel ambulatory growth

Philadelphia-based Thomas Jefferson University and Jefferson Health plans to launch a joint venture with Toledo, Ohio-based Welltower, a real estate investment firm, as part of a strategy to better manage aging patients' social determinants of health and grow its ambulatory care network.

The two organizations signed a memorandum of understanding, they announced Jan. 13, and they expect to reach a definitive agreement in 90 days.

The joint venture structure would allow Welltower to acquire a stake in Jefferson's real estate assets, so the health system could reallocate capital to other strategic areas. The partnership will also help Jefferson grow its ambulatory network and better identify where clinical services are most needed. Welltower will gain access to Jefferson clinicians, who will provide care at the firm's senior housing, assisted living and memory care communities.

"This partnership with Welltower will be a crucial step forward in achieving our 'healthcare with no address' innovation strategy," said Stephen Klasko, MD, president of Thomas Jefferson University and CEO of Jefferson Health, in a press release.

This is Welltower's first health system partnership.

More articles on transactions and valuation:

WVU Medicine to absorb Pennsylvania hospital
ChristianaCare partners with urgent care chain
AdventHealth buys 103 acres in Florida

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