LifePoint sees higher prof­its, com­pletes deal

Modern Healthcare - - Late News -

LifePoint Hos­pi­tals, Brent­wood, Tenn., said it would com­plete its ac­qui­si­tion of a Ken­tucky hos­pi­tal on April 30 and looks for­ward to mak­ing fu­ture deal an­nounce­ments soon. The com­pany also re­ported higher prof­its for the first quar­ter. The ac­qui­si­tion of 75-bed Clark Re­gional Med­i­cal Cen­ter, Winch­ester, Ky., will give LifePoint three hos­pi­tals out­side of Lex­ing­ton, Ky., which will give the com­pany some scale in the area, said Bill Car­pen­ter, pres­i­dent and CEO of LifePoint. Clark Re­gional has low mar­ket share be­cause of its aged plant, but the $60 mil­lion re­place­ment hos­pi­tal that LifePoint has pledged to build as part of the deal will solve that prob­lem, Car­pen­ter said. Car­pen­ter de­clined to spec­ify the num­ber of deals LifePoint ex­pects to com­plete this year, but said the com­pany is con­sid­er­ing a num­ber of deals. For the first quar­ter, LifePoint earned $42.9 mil­lion com­pared with prof­its of $38.4 mil­lion in the year-ago quar­ter. Rev­enue rose 6.9% to $786.2 mil­lion.


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