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LifePoint Hospitals completes acquisition of Nason Hospital

Brentwood, Tenn.-based for-profit LifePoint Hospitals has completed its acquisition of Nason Hospital, a 44-bed community hospital in Roaring Spring, Pa.

As part of the acquisition, Nason will join Conemaugh Health System in Johnstown, Pa., which Brentwood, Tenn.-based Duke LifePoint Healthcare — a joint venture of Duke University Health System and LifePointHospitals — acquired last year.

Over the next decade, LifePoint will invest $8.5 million in capital improvements at Nason, including investments in physician recruitment, technology upgrades, new equipment and renovations, according to a news release. Proceeds from the deal will be used to pay in full the hospital's financial obligations, and about $3 million will pay for the Nason's charitable foundation, the release reads. Richard Grogan will serve as interim CEO of Nason, replacing Ray Askey, who is retiring.

In a statement, D. Stephen Martz, chairman of the Nason Hospital Board of Directors, said the acquisition strengthens Nason for the future and preserves jobs. "We also will have wonderful new opportunities to advance healthcare throughout west central Pennsylvania, improving the health and wellbeing of people in each of the communities we serve," he added.

LifePoint Chairman and CEO William F. Carpenter III and Scott A. Becker, CEO of Conemaugh Health System, said they, too, are pleased with the acquisition.

"Nason Hospital's medical staff and employees are critical contributors to their communities. Together, we have great opportunities to transform how healthcare is delivered in this region and strengthen the network of medical services provided here for generations to come," said Mr. Becker.

 

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