Ardent Acquires Texas-Based Hospital Chain
Ardent Health Services inked a deal to buy the Texas-based LHP Hospital Group. Nashville-based Ardent operates three health systems with 14 hospitals and employs multi-specialty physicians in nearly 100 clinic locations in New Mexico, Oklahoma and Texas. LHP operates five acute-care hospitals in Florida, Idaho, New Jersey and Texas with its JV partners, which include leading not-for-profit and academic medical centers.
LHP was founded in 2008 as Legacy Hospital Partners and is now led by former senior Tenet Healthcare exec John Holland. With about $3B in revenue, the combined company will be the nation's No. 2 privately held for-profit hospital chain, with 3,200 beds and about 18,000 employees, reports the Nashville Post. The company's leadership and HQ will remain in Nashville. The terms of the deal, which is expected to close early next year, are still undisclosed. [NP]