Ardent, KU Health join forces to buy St. Francis Health

The University of Kansas Health System and for-profit Ardent Health Services are creating a joint venture company to purchase 378-bed St. Francis Health in Topeka, Kan.

The deal is the sixth such joint venture that Ardent has announced with a not-for-profit health system. The arrangement allows the partners to share the capital costs of buying and building out the capabilities of targeted hospitals. Ardent also brings business practices and purchasing economies to the acquired hospitals, while KU Health contributes clinical expertise and brand equity to the deals.

As part of the deal, the Kansas joint venture plans to spend $50 million at St. Francis Health to improve and expand services, the companies said. Financial terms were not disclosed. Ardent operates 20 hospitals in six states with more than 500 employed physicians and 18,000 employees.