Apollo Global Management has announced they plan to buyout LifePoint Health, in a $5.6 billion deal that will expand Apollo’s hospital business.
LifePoint is currently the parent company to SageWest, which owns hospitals in Riverton and Lander.
LifePoint is a Tennessee-based company and according to a release from Reuters, is currently facing higher medical costs, fewer patient admissions, and changes to reimbursement policies in Medicare and Medicaid that have pressured profits.
The combined company will be led by current LifePoint Chief Executive Officer William Carpenter III.
We reached out to SageWest spokeswoman Lindsey Anderson about the merger…
SageWest Health Care views the announcement of our owner, LifePoint Health, merging with fellow healthcare leader RCCH HealthCare Partners as extremely positive. The two organizations are aligned and share SageWest’s commitment to ensuring that our communities have access to high quality care, close to home. We are proud of our contributions to the Fremont County communities and our affiliation with LifePoint. After the merger closes, we believe we will be well positioned to meaningfully extend our mission of Making Communities Healthier. The transaction should have no impact on the way patients access our hospitals, physicians or other locations. Our priority and focus will continue to be providing high quality patient care.
Earlier this week, LifePoint released an official press release, which you can view here.