LifePoint Health is partially shifting ownership of St. Francis Hospital in Columbus, Ga., to Emory Healthcare through a new joint venture.
LifePoint, based in Brentwood, Tenn., has owned St. Francis Hospital since 2016. Now under a newly formed joint venture between Emory and LifePoint, the two health systems will co-own the 376-bed facility.
St. Francis has also worked with Atlanta-based Emory for years through various clinical affiliations dating back to 2003. Most recently, St. Francis joined Emory's Regional Affiliate Network in 2017, and last year, Columbus physicians were able to join Emory's clinically integrated network.
St. Francis board chairman Philip Thayer called the new co-ownership "pivotal" for the hospital. "LifePoint and Emory Healthcare have been vital contributors to our success over the last four years, allowing our talented physicians, clinicians and staff to focus on delivering high-quality care and service to our community," Mr. Thayer said. "This collaboration will allow us to build upon the momentum we have established and create new opportunities for us to improve the health of those we serve and strengthen the healthcare infrastructure throughout this region.”
More articles on transactions and valuation:
Prime Healthcare withdraws bid to buy Bayonne Medical Center
HCA buys majority stake in multistate nursing school
Hospital M&A update: 8 recent deals