Sisters of Charity Health Systems signs letter of intent for Providence Hospitals to join LifePoint Health
July 28, 2015
COLUMBIA, SC – The Sisters of Charity Health System and Providence Hospitals have announced the signing of a letter of intent for Providence Hospitals to be acquired by LifePoint Health. As part of LifePoint, Providence Hospitals will continue to operate in a manner consistent with the obligations of a Catholic hospital, as it has since its founding.
Joining LifePoint Health will provide Providence new clinical, financial and operational resources to advance its strong market position and ensure its growth and ongoing commitment to providing high-quality healthcare to the communities it serves.
“LifePoint is bringing significant plans to the table to strengthen Providence Hospitals as the statewide leader in cardiac and orthopedic care in South Carolina while still embracing its Catholic healthcare mission,” said Terrence P. Kessler, president and CEO of the Sisters of Charity Health System. “We are excited about the opportunity for Providence to offer an even higher standard of care for the community and look forward to exploring this acquisition further.”
Focused on providing quality care close to home, LifePoint Health is a leading healthcare company that owns and operates community hospitals, regional health systems, physician practices, outpatient centers, and post-acute facilities in 20 states. It has a growing presence in the Southeast and significant expertise in operating regional hospital systems that serve as referral centers for their surrounding communities.
LifePoint has the potential to bring many benefits to Providence, its employees, medical staff, patients and communities. As part of LifePoint, Providence will have access to additional resources and support to grow medical services throughout South Carolina and continue to strengthen its operations for the future.
“We are looking forward to this new relationship with Lifepoint,” stated Michael Kapp, chair, Board of Directors, Providence Hospitals. “We see this as an opportunity to grow and expand our services in South Carolina.”
Providence and LifePoint are committed to:
- Continuing Providence’s Catholic identity, mission and ministry services as part of the Diocese
of Charleston; - Providing charity care for those in need;
- Advancing innovation, quality of care and service to the community;
- Growing primary care services to address the health and wellness needs of our community;
- Expanding clinical services and continuing to advance Providence’s leadership in cardiac care
and orthopedics; - Engaging physicians to further enhance high quality, safe, patient-centered care;
- Retaining Providence employees, subject to industry standard pre-employment screenings; and
- Being a strong community partner and involving the local community in Providence’s
governance.
“Providence has been a leading healthcare provider for the people of Columbia and surrounding communities for more than 75 years,” said William F. Carpenter III, chairman and CEO of LifePoint Health. “We are delighted at the prospect of welcoming Providence to our system and working with its team to define how LifePoint’s financial strength, operational expertise and deep clinical and quality resources can build on their great accomplishments and make communities in South Carolina healthier.”
The letter of intent is a non-binding agreement that allows the Sisters of Charity Health System and LifePoint to move forward with steps to pursue the proposed acquisition of Providence Hospitals on an exclusive basis. Following due diligence, the Sisters of Charity Health System, Providence Hospitals and LifePoint are expected to enter into a definitive agreement.
About Providence Hospitals, a ministry of the Sisters of Charity Health System
Providence Hospitals is the leading provider of cardiovascular and orthopedic services in the Midlands. Providence is composed of two hospitals, thirteen physician practices, a network of rehabilitation centers, two sleep centers, a school of cardiac diagnostics and is an accredited chest pain center. In total, Providence employs more than 2,000 dedicated staff. Founded in 1938 by the Sisters of Charity of St. Augustine, Providence is known statewide for outstanding clinical quality and compassionate care. The Providence open-heart surgery program has ranked consistently in the top 15% of open heart programs for the past six and one-half years in the US. Both the orthopedics and cardiac services have received the South Carolina BlueCross BlueShield Blue Distinction Center designation. For more information, visit www.providencehospitals.com.
About LifePoint Health
LifePoint Health is a leading healthcare company dedicated to Making Communities Healthier®. Through its subsidiaries, it provides quality inpatient, outpatient and post-acute services close to home. LifePoint owns and operates community hospitals, regional health systems, physician practices, outpatient centers, and post-acute facilities in 20 states. It is the sole community healthcare provider in the majority of the non-urban communities it serves. More information about the company can be found at www.LifePointHealth.net. All references to “LifePoint,” “LifePoint Health” or the “Company” used in this release refer to affiliates or subsidiaries of LifePoint Health, Inc.
