Brentwood, Tenn.-based Ardent Health announced a definitive agreement Nov. 12 to acquire Columbia, Mo.-based Boone Health for $47 million in cash.
The acquisition of the locally governed, nonprofit health system includes its 392-bed Boone Hospital Center, Boone Health Medical Group, 19 care sites and related ancillary services and associated real estate, according to a news release from the two parties.
The transaction, which is expected to close in the first quarter of 2027, is subject to customary closing conditions.
Boone Health has operated as an independent system since 2021, with more than 100 years of service to patients across Columbia and mid-Missouri. The system’s board of trustees and board of directors announced in 2025 plans to locate a strategic partner to provide additional resources and capital to support its growth.
“In Ardent, we identified a partner that supports our mission, respects our culture and can accelerate our vision without compromising what makes Boone Health special,” Jerry Kennett, MD, chair of the Boone Health Board of Trustees, said in the release. “Following a thoughtful review, the Board is confident Ardent is the right long-term partner for Boone Health. This agreement protects what our community has built while giving Boone Health the resources it needs to grow.”
The definitive agreement includes a $200 million capital commitment over 10 years to fund equipment, facility renovations, new facilities and services, physician recruitment and information systems, with emergency department expansion and operating room modernization among the near-term priorities.
It also has a commitment to maintain essential hospital services at Boone Health, continued employment for all of the system’s active employees, physicians and advanced practice providers in good standing, an establishment of a local advisory board for Boone Hospital Center and the continuation of Boone Hospital’s existing charity care policy, the release said.
Ardent and Boone Health will operate as separate organizations until the transaction is complete, with no immediate changes to daily operations, employee roles or patient care.
Ardent Health comprises 30 acute care hospitals, more than 280 care sites and more than 2,000 employed and affiliated providers across six states, the release said.
Boone Health has more than 2,000 employees and 350 physicians on its medical staff.
“This agreement advances our disciplined capital allocation strategy and provides a significant opportunity to expand patient access, strengthen specialty services and invest in care delivery,” Dave Caspers, president and CEO of Ardent Health, said in the release. “We are committed to investing in Boone Health’s facilities, technology and people so the organization can continue delivering high-quality healthcare to residents of Columbia and the 26 counties of Mid-Missouri for generations to come.”
