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January 15, 2020

Jefferson, Welltower partnership aims to improve senior care

Senior Health Health Care
Jefferson Welltower Thom Carroll/for PhillyVoice

Jefferson Health and Welltower, a real estate investment trust are expected to form a partnership that will address social determinants of health for aging populations.

A long-term strategic partnership planned between Jefferson Health and Toledo-based real estate investment trust Welltower will strive to improve care for seniors in the years to come, the organizations announced this week.

A memorandum of understanding between Jefferson Health and Welltower creates a framework for a joint venture that would give Welltower a stake in Jefferson real estate assets. In turn, Jefferson would be free to redeploy capital to other clinical and academic areas.

The agreement, expected to be signed in the next 90 days, covers the shared geographic footprint of both organizations.

“This partnership with Welltower will be a crucial step forward in achieving our ‘healthcare with no address’ innovation strategy,” said Stephen K. Klasko, CEO of Jefferson Health. “By partnering with the best companies across varied sectors, we can bring world-class healthcare from the hospital to the home. We’re thrilled that the great team at Welltower is looking to Jefferson to advance our shared ambitious aim of creating healthier communities.”

The partnership will bring Jefferson clinicians to Welltower senior housing, assisted living and memory care communities throughout the region.

The organizations are also expected to build future facilities together, giving Jefferson clinicians the opportunity to manage patients through the full continuum of care from pre-acute to acute and post-acute. Patients would potentially be tracked over time through wearable devices, alert messaging integrated into electronic medical records and mobile-enabled communications.

"Welltower and Jefferson are well aligned in our thinking that much of the current built environment for healthcare delivery cannot meet the promise of technological innovation and value-based care," Welltower CEO Thomas J. DeRosa said. "Jefferson, a leader in delivering care outside the hospital walls, together with Welltower, will work to ensure that Jefferson’s healthcare delivery infrastructure will deliver care more efficiently, cost effectively and with improved outcomes."

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