Portneuf Medical Center under new ownership
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POCATELLO — Ardent Health Services announced Wednesday it has completed the previously announced acquisition of LHP Hospital Group, Inc. The company now owns Portneuf Medical Center in Pocatello.
The Company is now the second largest private, for-profit hospital operator in the U.S. with 19 hospitals in six states and $3 billion in revenues. Terms of the transaction were not disclosed.
“Today marks the beginning of an exciting new chapter for our company,” said David T. Vandewater, president and CEO of Ardent Health Services. “With a shared focus on local partnerships and collaboration, and the additional scale and market diversity we gain through this merger, Ardent is well positioned to compete in a rapidly changing healthcare environment. We are pleased to welcome our new employees, physicians and partners and look forward to working together to continue investing in the communities we serve.”
Ardent will continue LHP’s emphasis on joint venture partnerships with top-tier, not-for-profit and academic health systems, and the Company has assumed LHP’s management and operational responsibilities within each of its existing partnerships.
Former LHP Interim CEO Paul Kappelman has been appointed executive vice president and chief operating officer for Ardent. Kappelman will oversee day-to-day operations of the hospitals, clinics and business units within each of the company’s markets, as well as Ardent’s quality, financial operations and physician recruitment efforts.
Portneuf Medical Center released the following statement:
This is an important growth milestone for our new parent company, Ardent Health Services. While this change is not anticipated to affect operations at Portneuf Medical Center, it will allow us access to an even broader network of resources.
Additionally, with increased economies of scale we will be better positioned to compete in an ever-changing health care environment. We believe that joining Ardent is a very positive development for Portneuf.