Dive Brief:
- LifePoint Hospitals, of Brentwood, TN, will acquire Nason Hospital in Roaring Spring, PA, in exchange for $8.5 million in capital improvements.
- As part of the acquisition, Nason Hospital has become part of Johnstown, PA-based Conemaugh Health System, which LifePoint acquired last year.
- Proceeds from the acquisition will reportedly be used to retire the hospital's financial obligations, and approximately $3 million will fund its charitable foundation.
Dive Insight:
LifePoint's acquisition is good news for the struggling Nason Hospital, which expects to "strengthen" its facility, keep vital medical services and preserve jobs as part of LifePoint and Conemaugh Health System. The for-profit chain has properties in 21 states and controls about 68 separate hospitals.
It's also significant because of LifePoint's growing influence on healthcare delivery models. Earlier this month, Duke University Health System and LifePoint entered a national quality agreement to focus on safety across LifePoint's 60 facilities. The program will utilize tools and best practices from both organizations, which have worked together in a 12-hospital joint venture since 2011.