Tenet Healthcare Inks LifePoint Agreement

Tenet Healthcare agreed the sale of the “North Carolina Hospitals and Related Operations” including 137-bed Central Carolina Hospital in Sanford and the 355-bed Frye Regional Medical Center in Hickory, as well as 19 physician practices reports iHumanMedia.com. 

healthcareThe deal puts Duke LifePoint in control of all facility related operations. Tenet boasted LifePoint has a great reputation, growing their statewide network, impressive leadership teams and focus on quality and value for our patients.

“We are thrilled to offer more convenient points of care to our patients while elevating the overall health of the communities we serve,” said William F. Carpenter III, LifePoint chairman and chief executive officer. “We believe this arrangement will improve care delivery across the state and better position all of our hospitals to meet the challenges of today’s health care environment.”

Under the terms of the definitive agreement, Duke LifePoint will maintain all services currently provided at Central Carolina Hospital and Frye Regional Medical Center, and will offer employment to all employees of the hospitals, subject to standard pre-employment screenings.

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Currently, Duke LifePoint operates 12 hospitals, seven of which are in North Carolina, as well as a company that offers hospital-based and mobile catheterization lab services. When the transaction is completed, Duke LifePoint will operate 14 hospitals nationwide.

About Duke LifePoint Healthcare
Duke LifePoint Healthcare, a joint venture of Duke University Health System, Inc. and LifePoint Health (NASDAQ: LPNT), was established to build a dynamic network of hospitals and health care providers. The joint venture, which brings together LifePoint’s experience in community-based hospital management and Duke’s world-renowned leadership in clinical service, is strengthening and improving health care delivery by providing community hospitals the clinical, quality and operational resources they need to grow and prosper.

LPNT View: Annual Data | Quarterly Data All numbers in thousands
Period Ending Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014
Total Revenue 1,309,500   1,270,400   1,263,700   1,262,900  
Cost of Revenue 205,700 194,100 196,800 199,000
 
Gross Profit 1,103,800   1,076,300   1,066,900   1,063,900  
 
  Operating Expenses
  Research Development
  Selling General and Administrative 931,100 901,300 893,100 889,900
  Non Recurring 2,200 11,600 45,500
  Others 70,200 68,900 68,000 59,700
   
  Total Operating Expenses
 
 
Operating Income or Loss 100,300   106,100   94,200   68,800  
 
  Income from Continuing Operations
  Total Other Income/Expenses Net
  Earnings Before Interest And Taxes 100,300 106,100 94,200 68,800
  Interest Expense 28,200 28,100 28,400 29,200
  Income Before Tax 72,100 78,000 65,800 39,600
  Income Tax Expense 26,300 28,200 23,800 12,900
  Minority Interest (2,200) (3,400) (3,100) (4,300)
   
  Net Income From Continuing Ops 43,600 46,400 38,900 31,200
 
  Non-recurring Events
  Discontinued Operations
  Extraordinary Items
  Effect Of Accounting Changes
  Other Items
 
 
Net Income 43,600   46,400   38,900   22,400  
Preferred Stock And Other Adjustments
 
Net Income Applicable To Common Shares 43,600   46,400   38,900   22,400  

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