LifePoint shareholders approve RCCH merger, reject $120M in payouts for top execs

LifePoint Health shareholders approved a proposed agreement to merge the Brentwood, Tenn.-based hospital operator with RCCH HealthCare Partners, which is owned by Apollo Global Management, according to a filing with the Securities and Exchange Commission.

The shareholders approved the merger agreement in a majority vote at a special meeting Oct. 29. LifePoint expects the deal to close in the fourth quarter of this year.

Although shareholders agreed to the merger, they did not affirm a proposed "golden parachute" compensation package that would pay out approximately $120 million to four of LifePoint's top executives after the transaction closes.

Because the vote on the compensation package is advisory, it is nonbinding as long as the LifePoint-RCCH merger is finalized, according to the SEC filing.

More articles on healthcare finance:

Moody's: How CHS, Tenet and LifePoint are offsetting industry challenges
Amazon, Apple join growing list of companies opening on-site clinics for employees
Arizona hospital rebrands after bankruptcy

Copyright © 2023 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars