LifePoint to Sell $700M of Notes to Fund Acquisitions

Brentwood, Tenn.-based LifePoint Hospitals will sell $700 million of senior notes, which carry a 5.5 percent interest rate and mature in 2021.

Advertisement

LifePoint will use proceeds from the offering to fund acquisitions and for “other general corporate purposes,” such as repurchasing common stock. The sale of the notes is expected to close Dec. 6.

Earlier this month, LifePoint finalized its joint venture agreement with Fauquier Health in Warrenton, Va. It is also pursuing deals with WestCare Health System in Sylva, N.C., and Rutherford Regional Health System in Rutherfordton, N.C., through its Duke LifePoint Healthcare partnership. In September, LifePoint was rumored to be a potential buyer of Franklin, Tenn.-based Capella Healthcare.

Bill Carpenter, chairman and CEO of LifePoint, said in the company’s third-quarter earnings report that LifePoint has a “strong pipeline of potential [acquisition] opportunities.”

More Articles on LifePoint Hospitals:
LifePoint Hospitals Appoints Jeremy Clark Associate General Counsel
For-Profit Hospital Stock Report: Week of Nov. 11-15, 2013
Duke LifePoint, WestCare to Form Partnership

At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.

Download Whitepaper

The cost-saving opportunity most health systems overlook

Many hospitals and health systems scrutinize staffing, service lines, and payer contracts for savings. Fewer look at one of their largest assets: real estate.…

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.