Parkview Health is acquiring Ovation Healthcare, a nationwide shared services vendor for providers, the Indiana rural care system announced Friday.
Financial terms were not disclosed, though the 16-hospital nonprofit said it expects to close the purchase “in the coming weeks following standard regulatory review processes and approvals.”
Parkview would become Ovation’s sole owner and bring its complementary administrative and operational functions under the company should the deal close, though it’s planned for Ovation to continue operations as a separate organization with its own governance, per the announcement.
“With Ovation Healthcare, we are extending Parkview's proven operational depth across the nation to help rural providers remain independent, while continuing to drive down administrative costs for our local patients,” Rick Henvey, CEO of Parkview Health, said in the announcement. “Rural healthcare is in crisis across the country because of a lack of resources and models that allow providers to succeed. Through Ovation, we can help rural providers lower the cost of care with essential infrastructure and allow them to focus their resources on patient care.”
Brentwood, Tennessee-based Ovation was founded in 1977 and says it partners with nearly 500 healthcare organizations across most of the country, including hundreds of independent hospitals and those in large health systems. Its services include leadership advisory, auditing, managed IT services and spend and revenue cycle management. Its website highlights a $56 billion group purchasing organization, and 10% to 15% revenue yield improvements within client providers’ first year of partnership.
Parkview, a nonprofit, reported $3.4 billion in total operating revenue, a $107.2 million operating income (3.1% operating margin) and $327 million bottom line across 2025, and employs over 20,000 people across its largely rural footprint.
The organization said it had been ramping up its administrative and operational expertise since 2025, extending those functions to other independent provider partners. Acquiring Ovation will push those efforts to other rural providers across the national stage, it said.
“Parkview was the clear choice for Ovation’s next chapter because it shares our commitment to strengthening community healthcare and values the financial discipline of the shared services platform that has made Ovation a trusted partner to its clients,” Dwayne Gunter, CEO of Ovation Healthcare, said in the announcement. “With Parkview’s support, we can invest more deeply in our people and capabilities while combining our experience to help hospitals and health systems strengthen performance and keep care close to home, particularly in rural communities.”
Parkview said it has spent years working to reduce administrative expenses and costs for local payers, including a $1.1 billion reduction in commercial reimbursement rates over the past five years. The effort comes as hospitals and health systems nationwide scrutinize administrative and operational functions amid mounting macroeconomic pressures and policy-driven payment cuts. Those pressures have contributed to a wave of reorganizations, partnerships and changes to purchased services announced by providers in 2026.