Pri­vate-eq­uity firm Apollo com­pletes Re­gion­alCare deal

Modern Healthcare - - REGIONAL NEWS - —Dave Barkholz

In­vest­ment fund Apollo Global Man­age­ment has com­pleted its pur­chase of Re­gion­alCare Hos­pi­tal Part­ners, an eight-hos­pi­tal sys­tem based in Brent­wood, Tenn. Terms were not dis­closed.

Re­gion­alCare CEO Marty Rash said last month that when the deal was an­nounced, Apollo’s cap­i­tal would al­low the sys­tem to grow cur­rent oper­a­tions and ex­pand into ad­di­tional mar­kets.

For Apollo, a gi­ant pri­vate-eq­uity group with about $162 bil­lion un­der man­age­ment, the Re­gion­alCare ac­qui­si­tion is its first foray into hos­pi­tal own­er­ship. Apollo bought the Re­gion­alCare sys­tem from an­other pri­vate-eq­uity firm, War­burg Pin­cus.

Founded in 2009, Re­gion­alCare is now in seven states with eight com­mu­nity hos­pi­tals, five out­pa­tient cen­ters, and mul­ti­ple physi­cian prac­tices and ur­gent-care cen­ters.

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