LifePoint Hospitals Makes an Acquisition

LifePoint Hospitals (NASDAQ: LPNT  ) is about to become a bigger company thanks to a fresh acquisition. The company announced that it has inked a definitive agreement to buy Michigan's Bell Hospital. The deal obligates LifePoint to provide $5 million in capital investment at the hospital across the next 10 years and to retire its debt. LifePoint will also contribute roughly $1 million to a local charity.

Bell Hospital is an "acute care" facility located in Michigan's Upper Peninsula. It has more than 350 employees and boasts more than 90 physicians on its active and consulting staff.

At the moment, LifePoint operates 57 hospital facilities located in 20 states.

The Bell deal is subject to review by Michigan's attorney general.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2504106, ~/Articles/ArticleHandler.aspx, 4/16/2014 9:41:05 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement