LifePoint Hospitals, Brentwood, Tenn., completed its $1.7 billion acquisition of Province Healthcare Co., Brentwood, forming a company with 50 hospitals in largely nonurban areas in 20 states and $1.9 billion in annual revenue. Province shareholders received $11.375 in cash and 0.2917 shares of LifePoint for each Province share they owned, a value of $24.36 per share. Ken Donahey, LifePoint's chairman, president and chief executive officer, will head the new LifePoint. Most of the Province executive team, including Chairman and CEO Martin Rash, will leave. Rash founded Province in 1996. The LifePoint deal is the largest by an investor-owned company since Triad Hospitals, Plano, Texas, acquired Quorum Health Group, Brentwood, for $2.4 billion four years ago. -- by Vince Galloro
LifePoint completes $1.7 billion Province acquisition
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