Brentwood, Tenn.-based LifePoint Health and Louisville, Ky.-based Kindred Healthcare will establish a new healthcare company with 79 hospital campuses when their deal is complete, the companies said Oct. 26.
Eight things to know:
1. LifePoint Health signed a definitive agreement to acquire Kindred Healthcare in June. The new health company will be formed when this transaction closes.
2. The new company will be called ScionHealth and will be headquartered in Louisville.
3. The new company will comprise 79 hospital campuses in 25 states. The hospitals in the new company will include Kindred's 61 long-term acute care hospitals and 18 of LifePoint's community hospitals.
4. The remaining 65 hospitals in LifePoint's network, as well as its physician practices and outpatient centers, will combine with Kindred's rehabilitation and behavioral health business. LifePoint will continue to be run by President and CEO David Dill.
5. ScionHealth will have a management team of leaders from both LifePoint and Kindred. Rob Jay, who currently serves as executive vice president of integrated operations at LifePoint, will become CEO of ScionHealth.
6. LifePoint's acquisition of Kindred and the launch of ScionHealth are expected to be complete by the end of the year.
7. Benjamin Breier, CEO of Kindred, will step down from his role as a result of the transaction.
8. "As our teams began to examine how best to bring together the operations of LifePoint and Kindred, it became increasingly clear that we had the right mix of talent, services and assets to reorganize into two strong companies to better serve our patients and communities," Mr. Dill said. "In forming two companies with unique areas of focus, LifePoint Health and ScionHealth can improve access to quality care, create more opportunities for our employees, and invest in our communities."
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