LifePoint Health (NASDAQ: LPNT) and its Board of Directors
announced today that current Chairman and Chief Executive Officer
(CEO) William F. Carpenter III (Bill) will retire upon completion
of the Company’s pending merger with RCCH HealthCare Partners,
which is anticipated to occur later this year. Following his
retirement, Carpenter will join the merged organization’s Board of
Directors. David Dill, the Company’s current president and chief
operating officer (COO), will assume the role of CEO for LifePoint
upon Carpenter’s retirement.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20180926005284/en/
LifePoint Health Chairman and Chief
Executive Officer William F. (Bill) Carpenter III
Carpenter has served as CEO since 2006 and was appointed the
additional position as chairman of the Board in 2010. He is a
founding employee of LifePoint, which was established in 1999.
Carpenter led the strategic process that resulted in the
transaction that will merge LifePoint with RCCH HealthCare Partners
and transition LifePoint to a privately-held company.
“It has been an absolute privilege to lead LifePoint for nearly
13 years, and to be a part of the team since the company’s
inception almost 20 years ago. I am incredibly proud of all the
organization has accomplished during that time,” said Carpenter.
“We’ve grown from 23 hospitals in 9 states, to nearly 70 hospitals
in 22 states today, to a footprint that will soon span coast to
coast, pending completion of our merger with RCCH HealthCare
Partners. We’ve forged partnerships and innovations within the
industry that were first of their kind, such as being the only
investor-owned system selected by CMS to participate in the
Partnership for Patients initiative as a Hospital Engagement
Network, and our joint venture partnership with Duke University
Health System, Duke LifePoint Healthcare. With David’s leadership,
I’m confident that LifePoint will continue to advance its mission
of Making Communities Healthier in even more remarkable ways. I
cannot think of a better leader to take LifePoint into the future
and am pleased to have the opportunity to stay engaged through my
participation on the Board.”
Dill joined LifePoint as executive vice president and chief
financial officer in 2007. He was named COO in 2009 and appointed
president and COO in 2011. Under Dill’s leadership, the Company
grew its revenues from $2.6 billion in 2007 to more than $6 billion
projected for 2018 and enhanced quality and patient safety across
its hospitals, most notably by launching the Company’s National
Quality Program in collaboration with Duke University Health
System.
“It is a tremendous honor to be named CEO of LifePoint Health.
When I joined this organization more than 10 years ago, I was
attracted to the mission – Making Communities Healthier. Today, I
continue to be energized by our mission and the potential to make a
positive impact in communities across the country. I thank and
commend Bill for his years of leadership,” remarked Dill. “I
believe that LifePoint is better positioned than ever to be the
leader in non-urban healthcare, and to help define what the
delivery of community-based healthcare looks like in the future. I
am fortunate to be surrounded by one of the most talented teams in
the industry that will help take us there. Additionally, I am
excited about the opportunity to work with the team at RCCH
HealthCare Partners as we embark on the next chapter for the
combined company.”
Dill will be the first CEO of the merged LifePoint and RCCH
HealthCare organization, which will operate under the LifePoint
Health name. Following the close of the transaction, LifePoint will
operate a diversified portfolio of healthcare assets, including
approximately 85 non-urban hospitals in 30 states, regional health
systems, physician practices, outpatient centers and post-acute
service providers, with leading market positions as the sole
community healthcare provider in the majority of the regions it
serves.
About LifePoint Health
LifePoint Health® is a leading healthcare company dedicated to
Making Communities Healthier®. Through its subsidiaries, it
provides quality inpatient, outpatient and post-acute services
close to home. LifePoint owns and operates community hospitals,
regional health systems, physician practices, outpatient centers,
and post-acute facilities in 22 states. It is the sole community
healthcare provider in the majority of the non-urban communities it
serves. More information about the Company can be found at
www.LifePointHealth.net. All references to “LifePoint,” “LifePoint
Health” or the “Company” used in this release refer to affiliates
or subsidiaries of LifePoint Health, Inc.
Additional Information and Where to Find It
This communication relates to the proposed merger transaction
involving LifePoint. In connection with the proposed merger,
LifePoint has filed a preliminary proxy statement and will file a
definitive proxy statement and other relevant documents with the
Securities and Exchange Commission (the “SEC”). This communication
is not a substitute for the proxy statement or any other document
that LifePoint may file with the SEC or send to its stockholders in
connection with the proposed merger. BEFORE MAKING ANY VOTING
DECISION, STOCKHOLDERS OF LIFEPOINT ARE URGED TO READ ALL RELEVANT
DOCUMENTS FILED WITH THE SEC, INCLUDING THE PROXY STATEMENT, WHEN
THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security
holders will be able to obtain the proxy statement and other
documents filed by LifePoint with the SEC (when available) free of
charge at the SEC’s website, http://www.sec.gov, and LifePoint’s
website, www.lifepointhealth.net.
Participants in the Solicitation
LifePoint and its directors and executive officers may be deemed
to be participants in the solicitation of proxies from the holders
of LifePoint common stock in respect of the proposed transaction.
Information about the directors and executive officers of LifePoint
is set forth in LifePoint’s Annual Report on Form 10-K for the year
ended December 31, 2017, filed with the SEC on February 23, 2018,
and proxy statement for its 2018 annual meeting of stockholders,
filed with the SEC on April 25, 2018. Additional information
regarding potential participants in the proxy solicitation and a
description of their direct and indirect interests, by security
holdings or otherwise, will be contained in the proxy statement and
other relevant documents to be filed by LifePoint with the SEC in
respect of the proposed transaction.
Forward-Looking Statements
This communication contains certain information, including
statements as to the expected timing, completion and effects of the
proposed merger involving LifePoint, which may constitute
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to risks and
uncertainties, and actual results may differ materially. Such
forward looking statements include, among others, statements about
the benefits of the proposed transaction, including future
financial and operating results, plans, objectives, expectations
for LifePoint and other statements that are not historical facts.
Such statements are based on the current beliefs and expectations
of the management of LifePoint and are subject to significant risks
and uncertainties outside of LifePoint’s control. These risks and
uncertainties include the possibility that the anticipated benefits
from the proposed transaction will not be realized, or will not be
realized within the expected time periods; the occurrence of any
event, change or other circumstances that could give rise to
termination of the proposed transaction agreement; the failure of
LifePoint’s stockholders to adopt the merger agreement; operating
costs, loss and business disruption (including, without limitation,
difficulties in maintaining relationships with employees, customers
or suppliers) may be greater than expected following the
announcement of the proposed transaction; the retention of certain
key employees at LifePoint; risks associated with the disruption of
management’s attention from ongoing business operations due to the
proposed transaction; the inability to obtain necessary regulatory
approvals of the proposed transaction or the receipt of such
approvals subject to conditions that are not anticipated; the risk
that a condition to closing the transaction may not be satisfied on
a timely basis or at all; the risk that the proposed transaction
fails to close for any other reason; the outcome of any legal
proceedings related to the proposed transaction; the parties’
ability to meet expectations regarding the timing and completion of
the proposed transaction; the impact of the proposed transaction on
LifePoint’s credit rating; and other risks described in LifePoint’s
Form 10- K, Form 10-Q and Form 8-K reports filed
with the SEC. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
hereof. Except as otherwise required by law, LifePoint does not
undertake any obligation, and expressly disclaims any obligation,
to update, alter or otherwise revise any forward-looking
statements, whether written or oral, that may be made from time to
time, whether as a result of new information, future events or
otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180926005284/en/
LifePoint HealthMichelle Augusty, 615-920-7654Vice President,
CommunicationsMichelle.augusty@lpnt.net
LifePoint Health, Inc. (NASDAQ:LPNT)
Historical Stock Chart
From May 2024 to Jun 2024
LifePoint Health, Inc. (NASDAQ:LPNT)
Historical Stock Chart
From Jun 2023 to Jun 2024