LifePoint Health completes merger with RCCH
BRENTWOOD, Tenn. – LifePoint Health Inc. on Friday announced the completion of its merger with RCCH HealthCare Partners, which is owned by certain funds managed by affiliates of Apollo Global Management LLC.
As a result of the merger, LifePoint’s common stock is no longer trading on NASDAQ and will be delisted.
The combined, privately held company will operate under the LifePoint Health name and includes a footprint of regional health systems, physician practices, outpatient centers, and post-acute facilities in more than 85 non-urban communities that span coast to coast.
“Today marks a historic moment for LifePoint Health and RCCH HealthCare Partners,” said David Dill, whose appointment as chief executive officer of LifePoint became effective upon completion of the transaction. “We are officially one organization dedicated to providing high quality, community-based health care, and I am energized by the opportunities we have ahead of us to serve non-urban communities across the country.”
LifePoint’s headquarters will remain in Brentwood, Tennessee, and it will maintain both organizations’ existing strategic partnerships with well-known leaders in patient safety and clinical quality as it seeks to continue to advance quality care in each of its communities.
Former LifePoint Health Chairman and CEO William F. Carpenter III and former RCCH HealthCare Partners CEO Marty Rash will remain engaged in the organization as members of the Board of Directors of LifePoint.
“The health care delivery system in America is changing rapidly, and it is vital that we take the steps needed to ensure that high quality, compassionate care will be available to non-urban communities across the country,” said Rash. “The merger of these two companies creates an organization that is well positioned to be impactful to our patients and our communities for years to come.”
Duke LifePoint Healthcare acquired UP Health System, formerly Marquette General Health System, in 2012. Duke LifePoint Healthcare is a joint venture of Duke University Health System, one of the country’s leading academic health systems, and LifePoint Health.
As a result of the merger, LifePoint shareholders are receiving $65 per share in cash for each share of LifePoint’s common stock they owned, without interest and less any applicable withholding taxes.