LifePoint Hospitals, Brentwood, Tenn., has signed a letter of intent to buy 60-bed River Parishes Hospital, LaPlace, La., from Universal Health Services, King of Prussia, Pa., for undisclosed terms. The hospital is in a rural area about 20 minutes outside of New Orleans, so it fits LifePoint's operating model, said Carrie Fisk, marketing director for River Parishes. LifePoint officials are conducting due diligence and could make a final decision on the deal within a week, with closing expected June 30 if the deal goes forward, Fisk said. Currently, LifePoint owns or operates 29 hospitals, and UHS owns or operates 28 acute-care hospitals.
In other acquisitions news, Province Healthcare Co., Brentwood, Tenn., has signed a definitive agreement for a long-term lease on 240-bed Memorial Medical Center, Las Cruces, N.M. When the parties reached a tentative agreement late last year, the terms were reported as $150 million upfront for a 40-year lease. The hospital is owned by the city of Las Cruces and Dona Ana County. Province expects to close the deal by June 30, provided it receives regulatory approvals. The company currently owns 19 hospitals. -- by Vince Galloro