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Baptist Health acquires 9th hospital for $361M

Louisville, Ky.-based Baptist Health completed its purchase of Hardin Memorial Health in Elizabethtown, Ky., on Sept. 1. 

The asset purchase agreement spells out $361.4 million in payments and investments, including $235 million in operating and capital investments over 10 years. Baptist said it will invest $150 million in Hardin Memorial Health in the first five years to build new facilities, recruit physicians and upgrade IT and equipment. 

The deal closed about three years after the Hardin Memorial Health board of trustees signed a letter of intent to pursue the sale to Baptist Health. With the deal finalized, Hardin Memorial Health has been renamed Baptist Health Hardin. 

"While the name is changing, some things won't change," Baptist Health CEO Gerard Colman said in a news release. "You can expect the same quality healthcare you’ve come to know from familiar faces."

More articles on healthcare industry transactions: 
Massachusetts health system seeks partner after 2 deals fall through
Erlanger rejects $475M bid from new private equity firm
2 Arizona hospitals to join Dignity Health

 

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