RCCH Healthcare Partners (RCCH), owned by private equity firm Apollo Global Management, announced a merger with Tennessee-based LifePoint Health in a transaction worth approximately $5.6 billion.
The merger will see expected revenues of $8 billion, with the a total of 7,000 affiliated physicians, 60,000 employees and more than 12,000 beds.
“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,” said William F. Carpenter III, chairman and CEO of LifePoint. “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.”
After the transaction, Carpenter will head the new privately-held joint company. The joint venture will operate under the LifePoint Health name and its headquarters will remain in Tennessee. LifePoint will operate regional health systems, physician practices, outpatient centers, post-acute service providers and more than 80 non-urban hospitals in 30 states.
“The opportunity to join with LifePoint marks a significant milestone in RCCH’s history, said Martin Rash, chairman and CEO of RCCH. “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."