<0> Ardent Health ServicesKevin Gwin, 615-296-3146 </0>
After announcing the formation of a joint venture with Baptist Community Services (BCS) of Amarillo, Texas, to acquire , intends to pursue a $1.02 billion senior secured financing transaction.
The acquisition, announced Monday, Oct. 22, will result in a new joint venture that will own and operate BSA, an Amarillo, Texas-based health system that includes:
Ardent will own 80 percent of BSA and BCS will own the remaining 20 percent, although the two organizations will equally share governance. BCS and Dallas-based CHRISTUS Health have shared ownership of BSA since 1996. The acquisition is expected to close in January 2013.
and have provided fully committed debt financing to Ardent. The proceeds will refinance Ardent’s existing senior secured credit facilities, as well as finance its portion of the acquisition.
Ardent Health Services invests in quality health care. In people, technology, facilities and communities, Ardent makes considerable investments – producing high quality care and remarkable results. Based in Nashville, Tenn., Ardent’s subsidiaries own and operate 11 hospitals, a 236,000-member health plan, two multi-specialty physician groups with 230 providers and 11 retail pharmacies. For more information, go to .