Ar­dent Health, LHP en­ter merger agree­ment

Modern Healthcare - - LATE NEWS - —Shelby Liv­ingston

Nashville- based Ar­dent Health Ser­vices and Plano, Texas- based LHP Hos­pi­tal Group last week an­nounced they will merge into what would be the sec­ond-largest pri­vately owned, for-profit hos­pi­tal sys­tem in the coun­try by rev­enue. The com­bined sys­tem would have 19 hospi­tals in six states and $3 bil­lion in rev­enue. The sys­tem would own 3,200 beds and em­ploy about 18,000 em­ploy­ees, in­clud­ing more than 475 physi­cians.

Terms of the deal were not dis­closed. Ar­dent CEO David Van­de­wa­ter said there is no over­lap in the mar­kets served by Ar­dent and LHP and he ex­pects the merger could be ap­proved in as lit­tle as two weeks.

Ar­dent op­er­ates 14 hospi­tals in New Mex­ico, Ok­la­homa and Texas.

LHP owns five hospi­tals through joint ven­tures in Florida, Idaho, New Jersey and Texas.

The hospi­tals are: Panama City, Fla.-based Bay Med­i­cal Cen­ter; Mont­clair, N.J.-based HUMC Moun­tain­side; West­wood, N.J.-based HUMC at Pas­cack Val­ley; Po­catello, Idaho-based Port­neuf Med­i­cal Cen­ter; and Se­ton Med­i­cal Cen­ter in Harker Heights, Texas.

Ac­cord­ing to the state­ment, Ar­dent, which will re­main head­quar­tered in Nashville, will as­sume LHP’s man­age­ment and op­er­a­tional re­spon­si­bil­i­ties within each joint ven­ture. Ar­dent man­age­ment will lead the com­bined com­pany with as­sis­tance from key LHP ex­ec­u­tives.

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