LifePoint Hospitals, Inc., has agreed to purchase Sumner Regional Health Systems, a hospital system serving 11 counties in the northern middle Tennessee region.
Sumner filed for Chapter 11 bankruptcy protection on April 30. The proposed transaction will take place pursuant to Section 363 of the United States Bankruptcy Code and will be governed by a court-directed bidding process.
If the purchase agreement is approved, the transaction couldl be completed this summer.
Gallatin, Tenn.-based Sumner is comprised of its flagship 155-bed hospital, Sumner Regional Medical Center; Riverview Regional Medical Center and Riverview Medical Center-South, with 88 beds, serving residents of Smith and surrounding counties; and Trousdale Medical Center, a 25-bed critical access hospital in Hartsville. All are fully accredited by The Joint Commission.
“LifePoint is a natural partner for SRHS. The hospitals that comprise SRHS are well-positioned in attractive markets,” said William F. Carpenter III, LifePoint’s president and chief executive officer. “Additionally, the system benefits from recent capital improvements, market share expansion opportunities and physicians and staff who are passionately committed to their communities. With our corporate headquarters and six existing hospitals in Tennessee, we know the state very well and are excited by the prospect of serving the northern middle Tennessee region.”