September 1, 2010
LIFEPOINT HOSPITALS FINALIZES PURCHASE OF
SUMNER REGIONAL HEALTH SYSTEMS
Hospital operator acquires Tennessee health system for $145 million
System renamed HighPoint Health System
LifePoint Hospitals®, a leading hospital company focused on providing quality healthcare services close to home, today announced that its purchase of Sumner Regional Health Systems (HighPoint Health System), a comprehensive three-market hospital system serving 11 counties in the northern middle Tennessee region, is complete.
Under the terms of the final sales agreement, LifePoint purchased HighPoint Health System for $145 million plus working capital and committed to make $60 million in capital investments in the system’s four hospitals over the next decade. The company also will provide charity care to residents across the HighPoint Health System region and to inmates of Sumner County.
With the completion of the sale, HighPoint Health System has been renamed HighPoint Health System. The new name symbolizes the system’s east Highland Rim geographic service area. It also reflects LifePoint Hospitals’ “High Five” guiding principles: Delivering high quality patient care, supporting physicians to achieve clinical excellence, creating excellent workplaces for employees, strengthening the hospitals’ role in the community, and ensuring fiscal responsibility.
“Sumner Regional Health Systems is an excellent addition to LifePoint’s family of hospitals,” said LifePoint President and Chief Executive Officer William F. Carpenter III. “The employees and medical staff share LifePoint’s mission of making communities healthier. Moving forward as HighPoint Health System, we look forward to working with them to grow these hospitals and find new and even better ways to provide quality healthcare close to home for the residents of these communities.”
The new HighPoint Health System is comprised of four hospitals, including Sumner Regional Medical Center, the 155-bed flagship hospital located in Gallatin; Riverview Regional Medical Center - North, a 63-bed acute care hospital in Carthage; Riverview Regional Medical Center – South, a 25-bed critical access hospital in Carthage; and Trousdale Medical Center, a 25-bed critical access hospital in Hartsville. The system, which employs more than 1,300 people, is now part of LifePoint’s network of hospital facilities nationwide, which includes six other hospitals in Tennessee: Athens Regional Medical Center in Athens, Crockett Hospital in Lawrenceburg, Livingston Regional Hospital in Livingston, Hillside Hospital in Pulaski, Southern Tennessee Medical Center in Winchester and Emerald-Hodgson Hospital (a campus of Southern Tennessee Medical Center) in Sewanee.
“This is a momentous day for everyone at Sumner Regional Medical Center, Riverview Regional Medical Center and Trousdale Medical Center,” said Mary Jo Lewis, Chief Executive Officer of HighPoint Health System. “The HighPoint Health System has been the primary source of healthcare for people across northern middle Tennessee for many years. As part of LifePoint, we will have access to resources to invest in new equipment and services and recruit new physicians as we continue building the best hospital system for this region.”
About LifePoint Hospitals
LifePoint Hospitals, Inc. is a leading hospital company focused on providing quality healthcare services close to home. Through its subsidiaries, LifePoint operates 48 hospital campuses in 17 states. With a mission of “Making Communities Healthier®,” LifePoint is the sole community hospital provider in the majority of the communities it serves. More information about the Company, which is headquartered in Brentwood, Tennessee, can be found on its website, www.LifePointHospitals.com. All references to “LifePoint,” "LifePoint Hospitals," or the “Company” used in this release refer to LifePoint Hospitals, Inc. or its affiliates.
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LifePoint Hospitals, Inc.