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LifePoint Health Completes Kindred Healthcare Transaction


 

Completion of transaction also marks the launch of ScionHealth, a national health system that combines acute and post-acute hospitals from LifePoint and Kindred

LifePoint Health today announced the completion of the transaction with Kindred Healthcare and the related launch of ScionHealth. As a result of the transaction, LifePoint, a leader in the delivery of community-based care, has expanded its presence as a diversified healthcare delivery network that spans 29 states and includes more than 65 community hospital campuses, more than 30 rehabilitation and behavioral health hospitals and more than 170 additional sites of care across the healthcare continuum. In addition, ScionHealth officially launches with 79 hospital campuses in 25 states - 61 long-term acute care hospitals and 18 community hospitals and associated health systems.

"Today, we begin a new chapter in the future of LifePoint Health," said David Dill, chairman and chief executive officer (CEO) of LifePoint. "By adding Kindred Healthcare's rehabilitation and behavioral health expertise and businesses to LifePoint, we are well positioned to advance healthcare delivery in communities across the country by focusing on quality, innovation and value in markets where we can build and support diverse services and sites of care. We look forward to investing in healthcare delivery opportunities, developing our people, and working with new and existing partners to ensure that no patient has to choose between accessing excellent care and accessing care close to home."

The expanded LifePoint system has approximately 50,000 dedicated employees and 3,000 employed providers working across community hospital campuses, physician practices, inpatient rehabilitation facilities, behavioral health facilities, acute rehabilitation units, outpatient centers, and post-acute care facilities. It also has more than 15 new rehabilitation and behavioral health hospitals currently under development.

Additionally, the company has an extensive network of partners operating across the healthcare continuum with whom it works to build new services and advance access to high-quality care in its regions. As it seeks to grow and meet the changing needs of those it serves, LifePoint will continue to foster legacy collaborations as well as pursue new partnerships with academic medical centers, complementary service providers, community organizations, and others that share in their mission to make communities healthier.

Through its LifePoint Forward strategy, LifePoint also will continue driving innovation in care by identifying, investing in and deploying solutions to improve quality, access and patient outcomes. It will expand new ventures such as 25m Health and pursue additional partnerships with healthtech innovators such as Eon, Cadence and Loyal that will allow it to assist in the development and refinement of technology-enabled solutions and business platforms that support its communities and advance care delivery in its regions and beyond.

Dill will remain at the helm of LifePoint Health as chairman and CEO. The executive team that joins him in leading LifePoint moving forward includes:

  • Mike Coggin, executive vice president and chief financial officer
  • Victor Giovanetti, president, hospital operations
  • Jason Zachariah, president, integrated solutions
  • Jennifer Peters, executive vice president and general counsel
  • Sonny Terrill, executive vice president, human resources

"As we celebrate what's next for LifePoint, we also mark the official launch of ScionHealth," added Dill. "Like LifePoint, ScionHealth is committed to collaboration, to investing in innovative services that will benefit the people it serves, to making healthcare more accessible, and to supporting healthier communities. While LifePoint and ScionHealth have a great deal in common, we will serve unique populations and communities across the nation."

Headquartered in Louisville, Ky., ScionHealth is led by former LifePoint executive Rob Jay. The company consists of 79 hospitals, including Kindred's 61 long-term acute care hospitals and 18 of LifePoint's community hospitals and associated health systems. It provides high-quality, patient-centered acute and post-acute hospital solutions across 25 states.

LifePoint and ScionHealth will operate independently with distinct leadership teams and boards of directors. The companies anticipate this transition will be seamless for employees, partners, patients and the communities they serve.

Barclays and Guggenheim Securities, LLC, served as financial advisors to Kindred, and Debevoise & Plimpton LLP and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., served as legal counsel to Kindred. Financing for the transaction was provided by Barclays, Citi, and RBC Capital Markets. Citi and RBC Capital Markets were financial advisors to LifePoint Health. Sidley Austin LLP, K&L Gates, LLP, and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to LifePoint Health.

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