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BMC parent company announces merger

LifePoint Health, Inc. and RCCH HealthCare Partners, which is owned by certain funds managed by affiliates of Apollo Global Management, LLC, announced that they have entered into a definitive agreement to merge. Bolivar Medical Center became a member of LifePoint community hospitals following a merger with Province Healthcare in 2005. Sources say no changes are expected at the hospital in Cleveland and quality healthcare service to the people is still the hospital’s major goal. Following the close of the transaction, the combined company will be named LifePoint Health, and the company’s headquarters will continue to be in Brentwood, TN, where both companies’ headquarters are currently located. The combined company will be privately held, operate under the LifePoint Health name and be led by William F. Carpenter III, chairman and chief executive officer of LifePoint. Bolivar Medical Center was first built in 1962 and named East Bolivar County Hospital. At that time a hospital operated in Rosedale, which served the west side of the County. In 1971 the Rosedale hospital closed and East Bolivar County Hospital became Bolivar County Hospital. In September 1997, the name was changed to Bolivar Medical Center to reflect the increase in physician specialties and hospital services. Bolivar Medical Center is a 164-bed acute care facility, accredited by Joint Commission on Accreditation of Health Care Organization. The medical staff consists of active members whose specialties include family practice, internal medicine, general surgery, ophthalmology, obstetrics/gynecology, urology, pediatric dentistry, radiology, pathology and nephrology. A podiatrist is on staff. LifePoint and RCCH are among the nation’s leading healthcare providers, owning and operating networks of hospitals, post-acute service providers and outpatient centers that are integral to their communities. Both companies share a commitment to providing high quality care to regional markets. The combination of these two companies will create an even stronger healthcare provider with pro forma 2017 revenues of more than $8 billion as well as 7,000 affiliated physicians, approximately 60,000 employees and more than 12,000 licensed beds. Following the close of the transaction, LifePoint will operate a diversified portfolio of healthcare assets, including 84 non-urban hospitals in 30 states, regional health systems, physician practices, outpatient centers and post-acute service providers, with leading market positions as the sole community healthcare provider in the majority of the regions it serves. The combined company intends to maintain strategic partnerships with well-known leaders in patient safety and clinical quality to bring leading practices in quality and patient safety to each of its communities. Carpenter, chairman and chief executive officer of LifePoint, said, “LifePoint and RCCH are aligned in our missions and commitment to ensuring that non-urban communities across the country have access to quality care, close to home. “Together, we can extend this shared focus while generating new opportunities for growth and partnerships that will help us navigate the changing healthcare industry dynamics. “I am eager to work with the outstanding teams at LifePoint and RCCH as we continue advancing high quality patient care and Making Communities Healthier.” Martin Rash, chairman and chief executive officer of RCCH, said, “The opportunity to join with LifePoint marks a significant milestone in RCCH’s history. The size, scale and focus on growth for the new organization will be impactful for our patients, employees and partners. “I am thrilled that these two great companies are coming together." Matthew Nord, a senior partner at Apollo, said, "We are excited that LifePoint and RCCH are combining to create a national leader in community-based healthcare, and are looking forward to the next chapter of the combined company’s growth."

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