BOSTON-Harborside Healthcare Corp. said it has entered a joint venture agreement with NeighborCare Pharmacies, a Baltimore-based division of Genesis Health Ventures, to provide institutional pharmacy and infusion therapy services to skilled-nursing and assisted-living facilities in New Hampshire. Harborside also announced its pending acquisition of Boston-based
Access Rehabilitation. Access provides contract physical, occupational and speech therapy services to skilled- nursing facilities and home-care agencies in Florida, Massachusetts and Rhode Island. Access will be operated as part of Theracor, Harborside's rehabilitative therapy services subsidiary. Access reported $7.5 million in revenues in 1996. The acquisition is expected to close July 1. Terms of the agreements were not disclosed. Harborside operates 31 long-term-care facilities.
CAMDEN, N.J.-Cooper Health System said it has partnered with a real estate development subsidiary of PhyMatrix to transform a former 115,000-square-foot shopping center into a "medical mall" offering various outpatient services. Cooper Health System runs Camden's 554-bed Cooper Hospital-University Medical Center. West Palm Beach, Fla.-based PhyMatrix is a physician practice management company that owns Dasco Cos., a national medical real estate development company. The converted shopping center will house ambulatory surgery, diagnostic imaging, cancer, sleep and eye-care centers. It will also have a diagnostic laboratory, an imaging center, and primary-care and specialty physician offices. The health system said it decided to undertake the $20 million project in an effort to control costs and attract managed-care contracts. The medical mall is expected to open at the end of the year.