Duke LifePoint Healthcare closes buy of Conemaugh Health System.
2 September 2014 - US hospitals owner and operator Duke LifePoint Healthcare LLC has finalised its acquisition of local inpatient and outpatient healthcare services provider Conemaugh Health System Inc, the companies announced today in a joint press release.
Announcing the deal in August, Duke said its total financial value stood at USD500m (EUR381m). As part of the transaction, the buyer has pledged to invest USD425m in the target's services and facilities over the coming ten years.
The deal involves the purchase of Conemaugh Health System's three hospitals, its outpatient centres and the Conemaugh Physician Group practices.
The buyer will provide employment opportunities to the target's staff and seek to set up a local board of trustees that will be joined by a representative of the company.
Target: Conemaugh Health System Inc
Buyer: Duke LifePoint Healthcare LLC
Deal size in USD: 500m
Type: Corporate acquisition
|Printer friendly Cite/link Email Feedback|
|Publication:||M & A Navigator|
|Date:||Sep 2, 2014|
|Previous Article:||Norway's Weifa ponders acquisitions to expand business.|
|Next Article:||Rouse Properties sets JV with David Hocker & Associates.|