Business
For-profit hospital chain grows
NEWS IN BRIEF — Posted May 2, 2005
LifePoint Hospitals Inc. has completed its acquisition of Province Healthcare Co., creating a company with 50 hospitals in mostly non-urban areas in 20 states.
The merger, valued at about $1.7 billion, was finalized on April 15, said Brentwood, Tenn.-based LifePoint. Leaders said the deal would help bring the company to the forefront of the hospital industry.
The merged company has approximately 5,285 licensed beds and would have had combined revenues of about $1.9 billion in 2004.
Prior to the merger, LifePoint operated about 29 hospitals, and Province owned or leased about 21 acute-care facilities.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2005/05/02/bibf0502.htm.
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