Published: May 03, 2010
LifePoint Hospitals Agrees to Purchase Sumner Regional Health Systems
BRENTWOOD, Tenn. - (BUSINESS WIRE) - LifePoint Hospitals, Inc. (NASDAQ: LPNT), a leading hospital company
focused on providing quality healthcare close to home in non-urban
markets, today announced that the Company has agreed to purchase Sumner
Regional Health Systems (SRHS), a comprehensive three-market hospital
system serving 11 counties in the northern middle Tennessee region.
On April 30, 2010, SRHS filed for Chapter 11 bankruptcy protection in
the Middle District of Tennessee Bankruptcy Court. The proposed
transaction will take place pursuant to Section 363 of the United States
Bankruptcy Code and will be governed by a court-directed bidding
process, subject to applicable court approval.
SRHS is comprised of its flagship 155-bed hospital Sumner Regional
Medical Center, one of the largest non-government employers in Sumner
County and a provider of quality care in cancer treatment, cardiac care,
same day surgery, orthopaedics, diagnostics, women's health, home health
care and rehabilitation services. Other SRHS facilities include
Riverview Regional Medical Center and Riverview Medical Center - South
with 88 beds serving residents of Smith and surrounding counties; and
Trousdale Medical Center, a 25-bed critical access hospital in
Hartsville. All of these facilities are fully accredited by The Joint
Commission.
In announcing the transaction, William F. Carpenter III, LifePoint's
president and chief executive officer, said, "LifePoint is a natural
partner for SRHS. We share a commitment to providing high quality health
care to patients and being active members of the communities we serve.
The hospitals that comprise SRHS are well-positioned in attractive
markets. Additionally, the system benefits from recent capital
improvements, market share expansion opportunities, and physicians and
staff who are passionately committed to their communities. With our
corporate headquarters and six existing hospitals in Tennessee, we know
the state very well and are excited by the prospect of serving the
northern middle Tennessee region. We look forward to bringing the
benefits of our scale, resources and management capabilities to SRHS and
the region."
If the purchase agreement is approved, its conditions satisfied and
approved by the bankruptcy court, it is expected that the transaction
will be completed over the summer.
The Company also noted that it would review its previous earnings
guidance issued in February 2010 if the Company is successful in
acquiring SRHS in the bankruptcy proceeding.
About LifePoint Hospitals
LifePoint Hospitals, Inc. is a leading hospital company focused on
providing quality healthcare services close to home. Through its
subsidiaries, LifePoint operates 48 hospital campuses in 17 states. With
a mission of "Making Communities Healthier," LifePoint is
the sole community hospital provider in the majority of the communities
it serves. More information about the Company, which is headquartered in
Brentwood, Tennessee, can be found on its website, www.LifePointHospitals.com.
All references to "LifePoint," "LifePoint Hospitals," or the "Company"
used in this release refer to LifePoint Hospitals, Inc. or its
affiliates.
Important Legal Information. Certain statements
contained in this release are based on current management expectations
and are "forward-looking statements" within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and are intended to qualify
for the safe harbor protections from liability provided by the Private
Securities Litigation Reform Act of 1995. Numerous factors exist
which may cause results to differ from these expectations. Many
of the factors that will determine LifePoint's future results are beyond
LifePoint's ability to control or predict with accuracy. Such
forward-looking statements reflect the current expectations and beliefs
of the management of LifePoint, are not guarantees of performance and
are subject to a number of risks, uncertainties, assumptions and other
factors that could cause actual results to differ from those described
in the forward-looking statements. These forward-looking
statements may also be subject to other risk factors and uncertainties,
including, without limitation; the possibility that, as a result of the
competitive bidding process typical of an asset purchase out of
bankruptcy, LifePoint may ultimately not be the purchaser of SRHS; if
LifePoint succeeds in the purchasing of SRHS, LifePoint's ability to
successfully integrate and operate newly-acquired facilities and
physician practices; and those other risks and uncertainties described
from time to time in LifePoint's filings with the Securities and
Exchange Commission. Therefore, LifePoint's future results may differ
materially from those described in this release. LifePoint
undertakes no obligation to update any forward-looking statements, or to
make any other forward-looking statements, whether as a result of new
information, future events or otherwise.
All references to "LifePoint," "LifePoint Hospitals" and the
"Company" as used throughout this release refer to LifePoint Hospitals,
Inc. and its subsidiaries.

LifePoint Hospitals, Inc.
Jeff Sherman, 615-372-8501
Executive
Vice President and
Chief Financial Officer
or
Diane
Huggins, 615-565-1817
Vice President, Corporate Communications
diane.huggins@lpnt.net
Copyright © 2012, Business Wire, Inc., All rights reserved.
Copyright © 2012, NewsBlaze,
Daily News