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

Modern Healthcare - - REGIONAL NEWS - — Dave Barkholz

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.

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