CPPIB's LHP Hospital to merge with Ardent Health Services
Ardent Health Services and LHP Hospital Group Inc have agreed to merge. No financial terms were disclosed for the deal, which is expected to close in early 2017. With the close, the new business will be the second largest private, for-profit hospital operator in the United States with 19 hospitals in six states. Equity financing for the merger will be provided by Ardent's owner, Equity Group Investments. Plano, Texas-based LHP, established to provide capital and expertise to not-for-profit hospitals and hospital systems, is backed by Canada Pension Plan Investment Board (CPPIB) and CCMP Capital Advisors.
6 October 2016•4 mins read
