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Thursday, Jul 11, 2024

Providence Gets Stake in Lakeside Systems Inc

Lakeside Systems Inc. and Providence Health & Services California Region today announced a significant multi-million dollar equity investment by Providence in Lakeside, giving the company a minority position in Lakeside. According to terms of the agreement, Lakeside and Providence will collaborate on new health care products and services, expand the reach of healthcare services, and grow services, such as health information systems. Lakeside and Providence have had a 21-year relationship in the San Fernando and Santa Clarita valleys, with many of Lakeside’s physicians serving patients at Providence hospitals. With this new investment, Providence will have one seat on the Lakeside board and one seat on Lakeside Comprehensive Healthcare, a Lakeside company that holds a Knox-Keene license, allowing it to contract for Medicare business. There are no changes in Lakeside’s management structure.

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