Valley View parent company completes merger
BRENTWOOD, Tenn. — LifePoint Health announced Friday that its merger with RCCH HealthCare Partners has been completed.
LifePoint, based in Brentwood, Tennessee, is the parent company of Valley View Medical Center in Fort Mohave.
Details of the proposed merger were announced in July.
The result means that LifePoint Health, previously a publicly traded company, now is privately held under the LifePoint Health name. As part of the merger, LifePoint stock no longer will be traded on the Nasdaq stock exchange. The stock closed at $64.99 on Thursday; on Friday, shareholders received $65 per share. As of Thursday, the company had 38.75 million outstanding shares, according to Nasdaq figures, placing the value of the transaction at about $2.5 billion. LifePoint shares increased about 36 percent in value between July 20 — the day before the merger was announced — and completion of the purchase on Friday.
RCCH HealthCare Partners is owned by certain equity funds managed by affiliates of Apollo Global Management.
“Today marks a historic moment for LifePoint Health and RCCH HealthCare Partners. We are officially one organization dedicated to providing high quality, community-based healthcare, and I am energized by the opportunities we have ahead of us to serve non-urban communities across the country,” said David Dill, whose appointment as chief executive officer of LifePoint became effective upon completion of the transaction. “Our collective teams — now united as the LifePoint Health team — share a dedication to delivering compassionate, quality care, and have a deep bench of expertise in helping healthcare providers in non-urban areas succeed. Together, we have the size, experience, resources and drive to be even greater leaders in transforming community-based healthcare for the future.”
Valley View issued a statement Friday, confirming the merger.
“LifePoint Health and RCCH HealthCare Partners have completed their merger and will now begin operating as one, united company under the LifePoint Health name,” the statement said. “As part of the LifePoint network, Valley View Medical Center is now connected to an even stronger network of community hospitals, regional health systems, physician practices, outpatient centers and post-acute facilities that spans 30 states. This will give us new opportunities to grow and thrive in the rapidly evolving, competitive healthcare landscape.
“While there are great opportunities ahead, much about how our hospital operates today — including our dedication to our patients, employees, physicians and community — will remain the same, and we do not anticipate any changes in how our patients access our hospital and healthcare providers. People throughout our region can continue to count on our committed staff and physicians at Valley View Medical Center to provide excellent care that makes our community healthier.”
Valley View Medical Center, a 90-bed acute care facility, opened in 2005. The hospital provides 24-hour emergency service with full-time emergency physicians on duty, cardiopulmonary services, diagnostic imaging, intensive care and rehabilitative services, including outpatient on-campus therapy services with physical, occupational and speech therapy. Valley View expanded into Bullhead City in 2012 with Crossroads Urgent Care and Wide Open MRI.