Louisville, Ky.-based ScionHealth has entered into a definitive agreement to acquire Dallas-based Cornerstone Healthcare Group, an organization with 16 locations of specialty hospitals, senior living facilities and a behavioral health facility.
ScionHealth was established in late 2021 by Brentwood, Tenn.-based LifePoint Health and Louisville-based Kindred Healthcare. The deal with Cornerstone is ScionHealth's first step in its strategic plan for growth and innovation, it said in a May 12 news release.
The deal is expected to be completed in the second half of this year. Cornerstone Specialty Hospitals Clear Lake and Houston Medical Center are not part of the acquisition.
"This combination with ScionHealth confirms Cornerstone's commitment to quality care," Steve Jakubcanin, Cornerstone CEO and president, said in the news release. "We are proud to join an organization that puts people first and shares our vision to deliver best-in-class healthcare innovation and clinical expertise. We look forward to the benefits this combination will have for our team members and those we serve."