LIfePoint completes credit deal. LifePoint Hospitals, Brentwood, Tenn., said last week that it has completed a new $200 million credit agreement with a group of lenders led by Fleet National Bank. In March, LifePoint completed a secondary offering of $100 million and repaid all of its outstanding bank debt. The agreement increases the company's available credit under a revolving credit agreement to $200 million from $65 million. The new credit agreement "provides the financial resources the company needs to realize its growth initiatives," Kenneth Donahey, LifePoint's executive vice president and chief financial officer, said in a written statement. Donahey has headed the company's operations since the unexpected death of James Fleetwood, the company's chairman and chief executive officer, earlier this month. LifePoint owns or leases 21 rural hospitals.
Miami-Dade to buy hospital. The Miami-Dade County Commission last week agreed buy 233-bed Deering Hospital, Miami, for $32 million from HCA-The Healthcare Co., Nashville. The sale will allow the Public Health Trust, the county's publicly funded healthcare system, to expand its network to the southern part of the county. The Public Health Trust includes 1,376-bed Jackson Memorial Hospital, Miami's mammoth public hospital. The Deering sale is expected to be completed by July 1, and the hospital will be renamed Jackson South Community Hospital.
Maine systems forge deal. Sisters of Charity Health System in Lewiston, Maine, earlier this month announced an affiliation agreement with MaineHealth, Portland. Under the agreement, physicians at MaineHealth's 560-bed Maine Medical Center, Portland, will rotate through the Sisters of Charity's 187-bed St. Mary's Regional Medical Center, Lewiston, and the two organizations will share access to medical devices and services. Sisters of Charity and MaineHealth also will collaborate on information services and communication networks. The agreement means no corporate changes to either system and is the result of 21/2 years of discussions. A MaineHealth spokesman said the affiliation allows MaineHealth to enhance the services it provides in central Maine, but involves no exchange of money or "other considerations."
Fla. chain buys Pa. hospital. Health Management Associates last week completed its purchase of not-for-profit 110-bed Carlisle (Pa.) Hospital for $43 million and a guarantee that a new $55 million replacement hospital will be built within five years. Hospital trustees will use $28 million of the proceeds to pay off debt, with the remainder going to a charitable foundation that also will take claim of $34 million in hospital assets. Carlisle is the fourth hospital that the Naples, Fla.-based investor-owned chain has acquired in the past 11 months, bringing its total to 37 facilities.
CHS completes hospital buy. Community Health Systems, Brentwood, Tenn., earlier this month completed its previously announced acquisition of 168-bed Brandywine Hospital, Coatesville, Pa., for $40 million. CHS also said it would invest $42 million in the hospital over eight years. CHS now owns or leases 53 hospitals, primarily rural facilities, in 20 states.