Health & Fitness
Health and Fitness
Health and Fitness
Thu, September 2, 2010
Wed, September 1, 2010
Navigant Capital Advisors, LLC Serves as Financial Advisor to Sumner Regional Health Systems, Inc. in Its $156.8 Million Sale t
CHICAGO--([ BUSINESS WIRE ])--Navigant Capital Advisors, LLC (NCA) today announced that NCA advised Sumner Regional Health Systems, Inc. (aSRHSa) in the closing of its sale to LifePoint Hospitals, Inc. (NASDAQ: LPNT) (aLifePointa).
"We are extremely pleased that we were able to position Sumner Regional for this successful sale to LifePoint. This transaction adds four quality hospitals in attractive, growing markets to the LifePoint organization."
At the directive of SRHSa™ Board of Directors, NCA structured and negotiated the successful sale transaction with LifePoint for a cash price of $156.8 million. Upon execution of the definitive purchase agreement for the sale of substantially all of SRHSa™ assets, SRHS filed for protection under the U.S. Bankruptcy Code in April. LifePoint was selected as the prevailing bidder in the 363 sale process.
The sale was initiated after a year long operating turnaround that restored the hospitala™s cash flow through the completion of major performance improvement initiatives. These initiatives were led by Navigant professionals who assumed the roles of Chief Executive Officer, Chief Restructuring Officer, Vice President of Finance, and Head of Strategy, as well as a multi-disciplinary team of performance improvement specialists focused in the areas of revenue cycle improvement, purchasing and supply chain management, coding and clinical documentation, and clinical productivity.
Edward R. Casas, Senior Managing Director and Head of Navigant Capital Advisors, commented: aWe are extremely pleased that we were able to position Sumner Regional for this successful sale to LifePoint. This transaction adds four quality hospitals in attractive, growing markets to the LifePoint organization.a
SRHS operates as a private, not-for-profit healthcare organization serving an eleven county region in north-central Tennessee. Headquartered in Gallatin, Tennessee, SRHS is the predominant healthcare provider in such region providing a wide array of general and specialized healthcare services in both inpatient and outpatient settings through its four community-based acute care hospitals a" Sumner Regional Medical Center, Trousdale Medical Center, Riverview Regional Medical Center North, and Riverview Regional Medical Center South a" and multiple healthcare affiliates.
LifePoint is a leading hospital company focused on providing quality healthcare services in non-urban communities. Through its subsidiaries, LifePoint operates 48 hospital campuses in 17 states.
About Navigant Capital Advisors
Navigant Capital Advisors (NCA) is the dedicated corporate finance business unit of Navigant Consulting, Inc. NCA serves the Investment Banking, Restructuring, Valuation, and Transaction Advisory needs of companies, private equity groups, lenders, and other creditor constituencies. Investment banking, private placement, merger, acquisition and divestiture services offered through Navigant Capital Advisors, LLC. Member FINRA/SIPC. More information about Navigant Capital Advisors can be found at [ www.ncacf.com ].
About Navigant Consulting
Navigant Consulting, Inc. (NYSE: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. "Navigant" is a service mark of Navigant International, Inc. Navigant Consulting, Inc. (NCI) is not affiliated, associated, or in any way connected with Navigant International, Inc. and NCI's use of "Navigant" is made under license from Navigant International, Inc. More information about Navigant Consulting can be found at [ www.navigantconsulting.com ].
