LifePoint Health explained

LifePoint Health
Type:Private
Industry:Health - Hospitals
Services:Healthcare services close to home
Foundation:1999
Location City:Brentwood, Tennessee
Location Country:U.S.
Revenue:$ 8.8B
Key People:David M. Dill (president and chief executive officer)
John P. Bumpus (executive vice president, administration
Michael S. Coggin (executive vice president, chief financial officer)
Victor E. Giovanetti, FACHE (executive vice president, hospital operations)
Rob Jay (executive vice president, integrated operations)
Jennifer Peters (executive vice president and general counsel)
Num Employees:60,000[1]
Num Employees Year:2018

LifePoint Health is an American company that provides healthcare services in growing regions, rural communities and small towns. It was established in 1999 and is headquartered in Brentwood, Tennessee. As of November 16, 2018, it operated 89 hospital campuses in 30 states with more than $6 billion in revenues.[2] In 2011, the company was included in the Hospital Engagement Network by the U.S. Department of Health and Human Services, the only private organization in the country to be included.[3]

History

In January 2011, the company formed a joint venture with Duke University Health System.In 2005, Historic LifePoint Hospitals, Inc. merged with Province Healthcare Company to form the new public company, LifePoint Hospitals, Inc.[4]

In May 2011, DLP Healthcare, LLC, a joint venture of Duke University Health System and LifePoint Hospitals completed the acquisition of MedCath Partners, LLC.[5]

In June 2013, LifePoint Health completed the acquisition of the Bell Hospital.[6]

In December 2013, Portage Health and LifePoint Health reached a joint venture agreement to share ownership and operation of Portage Health, with about $40 million to fund a charitable foundation.[7]

In February 2014, LifePoint Health opened its new hospital support center in Brentwood.[8]

In 2015, LifePoint Hospitals Inc. changed its name to LifePoint Health.[9]

In 2018, LifePoint was acquired by private equity firm Apollo Global Management[10] and merged with RCCH Healthcare Partners,[11] which had formed from a merger a few years prior between Capella Health and RegionalCare Hospital Partners.[12]

In 2021, LifePoint Health acquired Kindred Health. LifePoint Health renamed the company ScionHealth in December 2021. After the acquisition, LifePoint now operates hospitals in 25 states.[13] ScionHealth will consist of 79 hospital campuses in 25 states, including Kindred’s 61 long-term acute care hospitals and 18 of LifePoint’s community hospitals and associated health systems.[14]

In December of 2023, the Senate Budget Committee launched an investigation into the effects of private equity ownership on hospitals that specifically mentioned Apollo's ownership of Lifepoint regarding high debt levels, cuts to services, layoffs, poor quality ratings, and regulatory investigations.[15]

Products and services

The services provided by the company's hospitals include inpatient services, like general surgery, emergency room care, radiology, oncology, and pediatric services; and also outpatient services, like same-day surgery, X-ray and respiratory therapy.[16]

Awards

In November 2013, fifteen LifePoint Health hospitals were considered Top Performers in Key Quality Measures by The Joint Commission. Eleven of LifePoint's hospitals were Top Performers in 2012.[17] On the list of "100 Best Places to Work in Healthcare" by Modern Healthcare, Jackson Purchase Medical Center was ranked 55th in 2010 and 70th in 2009 [18]

External links

Notes and References

  1. Web site: LifePoint Health. Fortune. 2018-12-20.
  2. Web site: About LifePoint.
  3. Web site: Quality & Service . 2014-03-03 . https://archive.today/20140303203849/http://www.lifepointhospitals.com/about-lifepoint/quality-service/ . 2014-03-03 . dead .
  4. Web site: LifePoint Hospitals, Inc. Completes Acquisition of Province Healthcare.
  5. Web site: DLP Healthcare Acquires Cardiac Cath Operations. 5 May 2011.
  6. Web site: Bell Hospital Signs Definitive Agreement to be Acquired by LifePoint Hospitals.
  7. Web site: Portage Health and LifePoint Hospitals form joint venture . dead . https://web.archive.org/web/20140212052058/http://www.portagehealth.org/lifepoint/ . 2014-02-12 .
  8. Web site: LifePoint Opens Hospital Support Center . dead . https://archive.today/20140303203835/http://www.lifepointhospitals.com/news/lifepoint-opens-hospital-support-center/ . 2014-03-03 .
  9. Web site: Why This Nashville Company Is Changing Its Name.
  10. Web site: Apollo to buy LifePoint in latest private equity bet on healthcare . Mathias . Tamara . July 23, 2018 . Yahoo!News . Reuters . May 26, 2023.
  11. Web site: LifePoint Health and RCCH HealthCare Partners Announce Completion of Merger. lifepointhealth.net. 2019-06-15.
  12. Web site: RegionalCare Hospital Partners and Capella Healthcare announce merger plans. Healthcare Finance News. en. 2019-06-15.
  13. Web site: LifePoint Health Completes Kindred Healthcare Transaction . 2022-07-06 . lifepointhealth.net.
  14. Web site: LifePoint Health and Kindred Healthcare to Launch New Company ScionHealth . 2022-07-06 . lifepointhealth.net.
  15. https://www.beckershospitalreview.com/finance/apollos-hospital-stranglehold-harms-patients-and-workers-report-alleges.html
  16. Web site: Company Full Description. https://web.archive.org/web/20150925010736/http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=LPNT.O . dead . 2015-09-25 . Reuters.
  17. Web site: Fifteen LifePoint Hospitals Named Top Performers by the Joint Commission . 2014-03-03 . https://archive.today/20140303203823/http://www.lifepointhospitals.com/news/fifteen-lifepoint-hospitals-named-top-performers-by-the-joint-commission/ . 2014-03-03 . dead .
  18. Web site: Modern Healthcare's 2010 Best Places to Work in Healthcare (Alphabetical List). 3 September 2010 .