Investment fund Apollo Global Management has completed its purchase of RegionalCare Hospital Partners, an eight-hospital system based in Brentwood, Tenn. Terms were not disclosed.
RegionalCare CEO Marty Rash said last month that when the deal was announced, Apollo's capital would allow the system to grow current operations and expand into additional markets.
For Apollo, a giant private-equity group with about $162 billion under management, the RegionalCare acquisition is its first foray into hospital ownership. Apollo bought the RegionalCare system from another private-equity firm, Warburg Pincus.
Founded in 2009, RegionalCare is now in seven states with eight community hospitals, five outpatient centers, and multiple physician practices and urgent-care centers.