Aramark Healthcare Announces Strategic Partnership with Patient Engagement Advisors (PEA)

Rhea-AI Summary

Aramark (NYSE: ARMK) has announced a strategic partnership with Patient Engagement Advisors (PEA) to enhance post-discharge care services. This collaboration aims to assist health systems and patients in managing post-discharge needs, thereby reducing costly readmissions. PEA's technology will connect patients with transition specialists, ensuring adherence to medication regimens and follow-up care. The partnership aligns with Aramark's growth strategy to provide comprehensive healthcare solutions and improve patient outcomes.

Positive

• Strategic partnership with Patient Engagement Advisors enhances post-discharge care services.
• PEA's technology aids in reducing readmission rates by connecting patients with transition specialists.
• Partnership aligns with Aramark's strategy for growth in healthcare services.

Negative

• None.

Access to PEA’s technology and service platform positions Aramark to assist health systems and patients manage post-discharge care and reduce costly readmissions

PHILADELPHIA--(BUSINESS WIRE)-- Aramark (NYSE: ARMK), a global leader in food and facilities management and uniforms, today announced it has entered into a strategic partnership with Patient Engagement Advisors (PEA), whose technology platform connects patients with transition specialists to help them navigate social determinants of health issues and solve for patient needs that extend through post-discharge care.

“Adding post-discharge care services to our other capabilities, including foodservice, enables us to better serve an evolving healthcare industry by working in partnership with our clients to help reduce costly readmissions,” said Bart Kaericher, President and CEO of Aramark’s Healthcare group. “PEA’s management team, dedicated employees, and commitment to service supports our shared goal of helping patients on the path to regain health, and to aid healthcare administrators in better serving their communities during and after hospitalization.”

A high percentage of readmissions are related to patients not adhering to hospitalization discharge medication regimens, follow-up appointments, and nutrition specifications. PEA’s technology leverages onsite and virtual staff in coordination with a proprietary app to assist patients across the continuum of care. In addition to helping arrange follow up appointments, and medication and nutrition support, the service enables coordination of transportation needs and access to assistance and social programs available nationally throughout state and local communities.

“We are excited to join with Aramark and believe this is the right fit for our organization,” said Jeff L. Moreland, Chief Executive Officer and Founder of Patient Engagement Advisors. “Now, with Aramark’s scale, we can offer increased value to our hospital and health system partners.”

Founded in 2008, PEA provides care navigation and population health services for large integrated healthcare systems and value-based risk organizations that are interested in growing and maintaining patient and consumer relationships for long term success, while achieving key performance metrics. The strategic partnership is a continuation of Aramark’s accelerated growth strategy to develop strategic relationships that will enhance the overall client and customer experience.

About Aramark

Aramark (NYSE: ARMK) proudly serves the world’s leading educational institutions, Fortune 500 companies, world champion sports teams, prominent healthcare providers, iconic destinations and cultural attractions, and numerous municipalities in 19 countries around the world with food, facilities, and uniform services. Because our culture is rooted in service, our employees strive to do great things for each other, our partners, our communities, and our planet. Aramark has been named to DiversityInc’s “Top 50 Companies for Diversity” list, the Forbes list of “America’s Best Employers for Diversity,” the Human Rights Campaign Foundation’s “Best Place to Work for LGBTQ Equality” and scored 100% on the Disability Equality Index. Learn more at www.aramark.com and connect with us on Facebook, Twitter, and LinkedIn.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect our current expectations as to future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. In this press release these statements include, but are not limited to, statements related to our growth strategy and future business development opportunities. In some cases forward-looking statements can be identified by words such as "outlook," "aim," "anticipate," "are or remain or continue to be confident," "have confidence," "estimate," "expect," "will be," "will continue," "will likely result," "project," "intend," "plan," "believe," "see," "look to" and other words and terms of similar meaning or the negative versions of such words. These forward-looking statements are subject to risks and uncertainties that may change at any time, and actual results or outcomes may differ materially from those that we expected. Certain of these risks and uncertainties are set forth under the headings Item 1A "Risk Factors” and other sections of our Annual Report on Form 10-K, filed with the SEC on November 23, 2021 as such factors may be updated from time to time in our other periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov and which may be obtained by contacting Aramark's investor relations department via its website at www.aramark.com. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and in our other filings with the SEC. As a result of these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements included herein or that may be made elsewhere from time to time by, or on behalf of, us. Forward-looking statements speak only as of the date made. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, changes in our expectations, or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220104006055/en/

Chris Collom

(215) 238-3593

Collom-chris@aramark.com

Source: Aramark

FAQ

What is the new partnership between Aramark and Patient Engagement Advisors?

Aramark has entered into a strategic partnership with Patient Engagement Advisors to enhance post-discharge care services to reduce costly readmissions.

How will Aramark's new partnership impact healthcare systems?

The partnership aims to help healthcare systems manage post-discharge care, improving patient adherence to medication and follow-up appointments.

What technology is involved in Aramark's partnership with PEA?

The partnership utilizes PEA's technology platform, which connects patients with transition specialists to assist with post-discharge care.

What is Aramark's stock symbol?

Aramark's stock symbol is ARMK.

When was the partnership between Aramark and PEA announced?

The partnership was announced on January 4, 2022.