Wednesday, 25 July 2018 07:15 AM
LONDON, UK / ACCESSWIRE / July 25, 2018 / If you want access to our free research report on LifePoint Health, Inc. (NASDAQ: LPNT) ("LifePoint"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=LPNT as the Company's latest news hit the wire. On July 23, 2018, the Company announced that it has inked a deal to merge with RCCH HealthCare Partners ("RCCH"), which is owned by certain affiliate-managed funds of Apollo Global Management, LLC (NYSE: APO), for an enterprise value of approximately $5.6 billion, including $2.9 billion of net debt and minority interest. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, LifePoint Health most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Merger Details
- Upon closing of the transaction, LifePoint's shareholders will receive $65 per share in cash for each share of LifePoint common stock they own, representing a premium of approximately 36% to LifePoint's closing share price on July 20, 2018.
- Post-merger, the combined Company will be privately held, and will operate under the LifePoint Health name. The Company's headquarters will continue to be in Brentwood, Tennessee, where both Companies' headquarters are currently located.
- William F. Carpenter III, Chairman and Chief Executive Officer (CEO) of LifePoint, will lead the new entity.
- Barclays, Citigroup, RBC Capital Markets, and Credit Suisse provided the financing. PSP Investments Credit USA LLC and an affiliate of Qatar Investment Authority have also committed to provide a portion of the debt financing, and also includes an equity contribution from funds managed by Apollo.
- The transaction, which is expected to close over the course of the next several months, is subject to customary closing conditions, including the approval by LifePoint's shareholders and the receipt of applicable regulatory approvals.
- As per the terms of the deal, LifePoint may actively solicit alternative acquisition proposals during a 30-day period following the execution date of the definitive agreement, continuing until 12:01 am ET on August 22, 2018.
Combined Companies to Create a Stronger Healthcare Provider
The combination of these two Companies will create a stronger healthcare provider with pro-forma revenues of more than $8 billion in 2017, as well as 7,000 affiliated physicians, approximately 60,000 employees, and more than 12,000 licensed beds. Following the transaction, LifePoint will operate a diversified portfolio of healthcare assets, including 84 non-urban hospitals in 30 states, regional health systems, physician practices, outpatient centers, and post-acute service providers, with leading market positions as the sole community healthcare provider in the majority of the regions it serves. The combined Company intends to maintain strategic partnerships with well-known leaders in patient safety and clinical quality to bring leading practices in quality and patient safety to each of its communities.
Scale and Focus on Growth for the New Organization will be Impactful for the Patients, Employees, and Partners
Commenting on the merger, Martin Rash, Chairman and CEO of RCCH, stated that the opportunity to join with LifePoint marks a significant milestone in RCCH's history. Rash added that the size, scale, and focus on growth for the new organization will be impactful for the patients, employees, and partners.
News reports suggest that post announcement of the news, LifePoint's shares surged in pre-market trade.
About LifePoint Health, Inc.
Founded in 1999 and headquartered in Brentwood, Tennessee, LifePoint is a leading healthcare organization dedicated to Making Communities Healthier®. The Company owns and operates community hospitals, regional health systems, physician practices, outpatient centers, and post-acute facilities in 22 states.
About RCCH HealthCare Partners
Based in Brentwood, Tennessee, RCCH works with communities to build strong regional healthcare systems that are known for quality patient care. RCCH HealthCare Partners operates 16 regional health systems in 12 states. It has more than 14,000 employees, and 2,500 affiliated physicians and mid-level providers.
Stock Performance Snapshot
July 24, 2018 - At Tuesday's closing bell, LifePoint Health's stock fell 1.00%, ending the trading session at $64.25.
Volume traded for the day: 2.81 million shares, which was above the 3-month average volume of 719.52 thousand shares.
Stock performance in the last month - up 23.92%; previous three-month period - up 29.54%; past six-month period - up 33.16%; and year-to-date - up 29.02%
After yesterday's close, LifePoint Health's market cap was at $2.52 billion.
Price to Earnings (P/E) ratio was at 202.04.
The stock is part of the Healthcare sector, categorized under the Hospitals industry. This sector was up 0.4% at the end of the session.
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