IASIS Healthcare Finalizes Acquisition of Brim Holdings, Inc.

FRANKLIN, Tenn.--(BUSINESS WIRE)-- IASIS Healthcare (“IASIS”) today announced the completion of its acquisition of Brim Holdings, Inc. (“Brim”).

IASIS announced on September 10, 2010, the signing of a definitive agreement to acquire Brim Holdings, Inc., which includes the hospital operations of Wadley Regional Medical Center, a full-service acute care hospital with 370 licensed beds in Texarkana, Texas, and Pikes Peak Regional Hospital, a 15-bed critical access hospital in Woodland Park, Colorado.

The cash-for-stock transaction is valued at $95 million, subject to final working net capital and other purchase price adjustments. Brim Holdings was a portfolio company of Altaris Capital Partners.

“We are very excited about the completion of this transaction and expect a smooth transition,” said IASIS Healthcare President Carl Whitmer. “The dedication and hard work of the leadership teams and clinical staffs at Wadley Regional Medical Center and Pikes Peak Regional Hospital have created great momentum at both of these facilities, and we look forward to working together to continue enhancing, for many years to come, the high quality care being delivered to the Texarkana and Woodland Park communities.”

IASIS, located in Franklin, Tennessee, is a leading owner and operator of medium-sized acute care hospitals in high-growth urban and suburban markets. The Company operates its hospitals with a strong community focus by offering and developing healthcare services targeted to the needs of the markets it serves, promoting strong relationships with physicians and working with local managed care plans. IASIS owns or leases 17 acute care hospital facilities and one behavioral health hospital facility with a total of 3,081 beds in service and has total annual net revenue of approximately $2.6 billion. These hospital facilities are located in seven regions: Salt Lake City, Utah; Phoenix, Arizona; Tampa-St. Petersburg, Florida; four cities in Texas, including San Antonio; Las Vegas, Nevada; West Monroe, Louisiana; and Woodland Park, Colorado. IASIS also owns and operates a Medicaid and Medicare managed health plan in Phoenix that serves more than 199,000 members. For more information on IASIS, please visit the Company’s Web site at www.iasishealthcare.com.



CONTACT:

IASIS Healthcare
Investor Contact:
W. Carl Whitmer, President
or
John M. Doyle, Chief Financial Officer
615-844-2747
or
Media Contact:
Michele M. Peden, VP, Corporate Communications
615-467-1255

KEYWORDS:   United States  North America  Tennessee

INDUSTRY KEYWORDS:   Health  Hospitals  Other Health  Nursing  Managed Care

MEDIA:

Logo
 Logo

Suggested Articles

The profit margins and management of Community Health Group raise questions about oversight of managed care insurers.

Financial experts are warning practices about the pitfalls of promoting medical credit cards to their patients.

A proposed rule issued by HHS on Tuesday would expand short-term coverage, a move Seema Verma said will have "virtually no impact" on ACA premiums.