Brentwood, Tenn.-based LifePoint Health has completed its acquisition of Providence Hospitals, a two-hospital system in Columbia, S.C.
Here are six things to know about the transaction.
1. LifePoint now has a presence in South Carolina.
2. As part of the transaction, LifePoint will maintain Providence Hospitals' Catholic identity and operate the hospitals as a Catholic healthcare provider.
3. LifePoint and Providence Hospitals will work together with local physician leaders to foster Providence's leadership in cardiac care and orthopedics and build more healthcare services across the region. This effort will include investing in Providence Hospitals' future growth and expanding the services available at its Northeast campus. Additionally, LifePoint will continue Providence Hospitals' dedication to providing charity care to the community.
4. With the completion of the acquisition, Providence Hospitals will become a local taxpayer, providing a new source of tax revenue to support government services, infrastructure and schools in Richland County, S.C. The company also will involve the community in the governance of the hospital through a board that includes physician and community representatives.
5. Scott Campbell, who previously was lead administrator and transition executive at Providence Hospitals during the acquisition, became the organization's market CEO, effective Feb. 1. Phil Young, who has served as lead administrator and transition executive for the Northeast campus, has become CEO of Providence Northeast.
6. William Carpenter III, chairman and CEO of LifePoint Health, spoke positively of the acquisition. "LifePoint is thrilled to welcome the employees, physicians and volunteers at Providence Hospitals to the LifePoint family. Under the previous leadership of the Sisters of Charity Health System, Providence Hospitals established a rich legacy of providing quality care and meeting unmet healthcare needs in the Midlands," he said in a prepared statement. "We are excited to continue the hospital's Catholic identity and proud to be partners in writing the next chapter of Providence's history. Together, we will advance healthcare delivery in this region and find new ways to make the communities we serve healthier."
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