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.
W. Carl Whitmer, President
John M. Doyle, Chief Financial Officer
Michele M. Peden, VP, Corporate Communications
KEYWORDS: United States North America Tennessee
INDUSTRY KEYWORDS: Health Hospitals Other Health Nursing Managed Care