Archives     Advertise     Editorial Calendar     Subscribe     Contact Us    


Lifepoint Health And Rcch Healthcare Partners Announce Completion Of Merger


 

LifePoint Health, Inc. (NASDAQ: LPNT) ("LifePoint") today announced the completion of its merger with RCCH HealthCare Partners ("RCCH"), which is owned by certain funds managed by affiliates of Apollo Global Management, LLC (NYSE: APO) (together with its consolidated subsidiaries, "Apollo"). As a result of the merger, LifePoint's common stock is no longer trading on NASDAQ, effective today, and will be delisted.

The combined, privately held company will operate under the LifePoint Health name and includes a footprint of regional health systems, physician practices, outpatient centers, and post-acute facilities in more than 85 non-urban communities that span coast to coast.

"Today marks a historic moment for LifePoint Health and RCCH HealthCare Partners. We are officially one organization dedicated to providing high quality, community-based healthcare, and I am energized by the opportunities we have ahead of us to serve non-urban communities across the country," said David Dill, whose appointment as chief executive officer (CEO) of LifePoint became effective upon completion of the transaction. "Our collective teams-now united as the LifePoint Health team - share a dedication to delivering compassionate, quality care, and have a deep bench of expertise in helping healthcare providers in non-urban areas succeed. Together, we have the size, experience, resources and drive to be even greater leaders in transforming community-based healthcare for the future."

LifePoint's headquarters will remain in Brentwood, Tennessee, and it will maintain both organizations' existing strategic partnerships with well-known leaders in patient safety and clinical quality as it seeks to continue to advance quality care in each of its communities.

The executive team that will lead LifePoint moving forward includes:

  • David Dill, CEO;
  • John Bumpus, Executive Vice President, Administration;
  • Michael Coggin, Executive Vice President and Chief Financial Officer;
  • Victor Giovanetti, FACHE, Executive Vice President, Hospital Operations;
  • Rob Jay, Executive Vice President, Integrated Operations; and
  • Jennifer Peters, Executive Vice President and General Counsel.

Former LifePoint Health Chairman and CEO William F. Carpenter III and former RCCH HealthCare Partners CEO Marty Rash will remain engaged in the organization as members of the Board of Directors of LifePoint.

"The healthcare delivery system in America is changing rapidly, and it is vital that we take the steps needed to ensure that high quality, compassionate care will be available to non-urban communities across the country," said Rash. "The merger of these two companies creates an organization that is well positioned to be impactful to our patients and our communities for years to come."

Carpenter commented, "I'm thrilled that our organizations have come together as one and am incredibly confident in the future of the newly-expanded LifePoint Health under David Dill's leadership. Ultimately, it is the care and services that our hospitals and health systems are providing that are most important, and I know the combined team will continue our legacy of supporting our employees and caregivers so that we are Making Communities Healthier for decades to come."

As a result of the merger, LifePoint shareholders are receiving $65.00 per share in cash for each share of LifePoint's common stock they owned, without interest and less any applicable withholding taxes. This represents a premium of approximately 36% to LifePoint's closing share price on July 20, 2018, the last trading day prior to the announcement of the merger.

Financing was provided by Barclays, Citigroup, RBC Capital Markets, Credit Suisse, Deutsche Bank Securities and UBS Investment Bank. PSP Investments Credit USA LLC and an affiliate of Qatar Investment Authority have also provided a portion of the debt financing. The financing also included an equity contribution from funds managed by Apollo and other co-investors.

Goldman Sachs & Co. LLC served as financial advisor and White & Case LLP served as legal advisor to LifePoint Health. Barclays and MTS Health Partners, L.P. served as financial advisors to RCCH, and Akin Gump Strauss Hauer & Feld LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP and Sidley Austin LLP served as legal advisors.

 
Share:

Related Articles:


Recent Articles

Alexander Visits Neighborhood Health at East Side in Nashville

VIDEO of United States Senator Lamar Alexander (R-Tenn.) visiting the Neighborhood Health at East Side health center in Nashville, where he learned more about what the center is doing to provide access to health care services in urban, underserved areas of Nashville.

Read More

AMA Grants MycoDART CPT Code For Its Life-Saving Test

MycoDART, Inc., developer of proprietary DNA tests, announced its second patented assay has been granted a CPT code from the American Medical Association.

Read More

Low-level Alcohol Use Increases Miscarriage Risk

Women who consume alcohol during pregnancy -- even in small amounts -- have a 19% greater risk of miscarriage than women who don't use alcohol, according to a new study by Vanderbilt researchers.

Read More

Beating the Odds

Vanderbilt Children's Hospital researchers play key role in groundbreaking study.

Read More

Hot Topics in Healthcare Law

Never a dull moment ... the highly regulated nature of the healthcare industry keeps America's health lawyers hopping.

Read More

Vanderbilt Children's New Program Leaders, Rankings

Monroe Carell Jr. Children's Hospital at Vanderbilt has recently welcomed new leaders to oversee specialty programming and again been recognized nationally in multiple specialties.

Read More

Insuring Kids

Local experts offer insight over ongoing coverage concerns for Tennessee children

Read More

Services for Mom & Baby Expanding at TriStar Centennial

Innovative initiatives at TriStar Centennial designed to keep mom and baby safe, together.

Read More

Another Option to Address Pediatric ADHD

NeuroSigma recently received FDA clearance for the first device to treat pediatric ADHD, offering providers, patients and parents a new alternative to medication.

Read More

Back to School Reminders for Patients & Providers

Back-to-school season is here, and it's a great time to talk to patients and parents about starting off the year with healthy habits

Read More

Email Print
 
 

 

 


Tags:
None
Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: