ScionHealth Completes Acquisition of Cornerstone Healthcare Group
Mix provides on ScionHealth’s determination to supply patients with earth-course care close to household.
LOUISVILLE, Ky., Jan. 23, 2023 /PRNewswire/ — ScionHealth today reported the near of its beforehand announced acquisition of Cornerstone Healthcare Team (“Cornerstone”). The addition of Cornerstone’s gifted caregivers and diversified portfolio of high-good quality write-up-acute care facilities enhances ScionHealth’s placement as a primary healthcare shipping and delivery network throughout 28 states and is an essential step in executing the organization’s strategic program for development and innovation.
The acquisition adds 15 specialty hospitals, 8 senior dwelling locations and close to 3,000 gifted employees to ScionHealth’s community to advance entry to significant-top quality care, boost innovation and improve the affected person expertise. The transaction expands ScionHealth’s nationwide network of specialty and neighborhood-primarily based hospitals and medical professional practices to deliver important treatment solutions in area communities nationwide.
“ScionHealth’s expansion, by way of the acquisition of Cornerstone, demonstrates our system for progress and our precedence in supporting excellent affected individual and employee experiences in hospitals shut to dwelling,” stated Rob Jay, chief executive officer of ScionHealth. “We are fired up to include Cornerstone and its devoted staff customers to ScionHealth, and eager to leverage most effective tactics from each organizations to proceed delivering compassionate, high quality-centered care to clients throughout the country who location their trust in us.”
“I am delighted to welcome the 3,000 talented caregivers from Cornerstone who share our eyesight to provide finest-in-course scientific knowledge, healthcare remedies and innovation to ScionHealth’s specialty hospital family members,” said Danny Brywczynski, president of ScionHealth’s Specialty Healthcare facility Division. “Inside our expanded specialty hospital portfolio, we will continue to supply top quality treatment and fantastic outcomes for the nation’s most medically intricate individuals.”
Simultaneous to the near of the transaction with Cornerstone, Lifepoint Wellness successfully accomplished the buy of Cornerstone Behavioral Well being El Dorado in Tucson, Arizona, from ScionHealth.
ScionHealth was proven in late 2021 with a aim on financial commitment in local community health care and grounded in commitments to superb client treatment and good quality outcomes.
Sidley Austin LLP and Paul, Weiss, Rifkind, Wharton & Garrison, LLP served as legal counsel to ScionHealth.
About ScionHealth
ScionHealth strives to produce on its assure of substantial-excellent, individual-centered clinic care by empowering the fingers that heal to do what they do best. The overall health system is centered on driving innovation, serving its communities, and investing in people and technologies to provide compassionate affected individual care and superb health results. Based in Louisville, ScionHealth operates 94 hospital campuses (76 specialty hospitals and 18 local community hospital campuses and linked overall health programs) and eight senior residing destinations in 28 states. For a lot more info, you should visit www.scionhealth.com.
Media Contact:
Scott Shepherd
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ScionHealth
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Ahead-Wanting Statements
This conversation is made up of selected information and facts, which includes statements as to the anticipated timing, completion and effects of the proposed transaction involving ScionHealth and Cornerstone Healthcare Group, which might constitute ahead-hunting statements. This sort of ahead-on the lookout statements are matter to threats and uncertainties, and genuine effects could differ materially. These forward on the lookout statements consist of, among other individuals, statements about the added benefits of the proposed transaction, including foreseeable future economical and running results, plans, objectives, expectations for ScionHealth and other statements that are not historic specifics. These statements are primarily based on the recent beliefs and expectations of administration and are subject matter to substantial dangers and uncertainties outdoors of its control. These pitfalls and uncertainties consist of, among the others: the possibility that the predicted rewards from the proposed transaction will not be recognized, or will not be recognized within the predicted time durations the occurrence of any celebration, transform or other situations that could give increase to termination of the proposed transaction agreement or trigger the proposed transaction not to near in just the predicted timeline or at all hazards associated with the disruption of management’s notice from ongoing business functions because of to the proposed transaction dangers affiliated with the retention of crucial employees and the incapability to get hold of essential regulatory approvals of the proposed transaction or the receipt of these types of approvals staying matter to disorders that are not expected. Visitors are cautioned not to place undue reliance on these ahead-hunting statements, which communicate only as of the day hereof. Except as in any other case demanded by regulation, neither ScionHealth nor Cornerstone Health care Team undertakes any obligation, and expressly disclaims any obligation, to update, alter or otherwise revise any ahead-searching statements, no matter whether composed or oral, that may well be designed from time to time, whether or not as a result of new information, long run activities or in any other case.
Source ScionHealth
