Brentwood, Tenn.-based LifePoint Health has signed a letter of intent to acquire Columbia, S.C.-based Providence Hospitals, which includes two facilities and is part of Cleveland-based Sisters of Charity Health System.
"We are excited about the opportunity for Providence to offer an even higher standard of care for the community and look forward to exploring this acquisition further," said Terrence P. Kessler, president and CEO of the Sisters of Charity Health System.
LifePoint Chairman and CEO William F. Carpenter III also showed excitement about the potential deal. "We are delighted at the prospect of welcoming Providence to our system and working with its team to define how LifePoint's financial strength, operations expertise and deep clinical and quality resources can build on their great accomplishments and make communities in South Carolina healthier."
Following a period of due diligence, the Sisters of Charity Health System, Providence Hospitals and LifePoint are expected to enter into a definitive agreement. As part of LifePoint, Providence will continue to operate in a manner consistent with the obligations of a Catholic hospital.
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