Baptist Community Services & Ardent Health Services Complete BSA Purchase

AMARILLO, Texas --(Business Wire)--

Baptist Community Services (BCS) of Amarillo, Texas, and Ardent Health Services of Nashville, Tenn., have successfully completed the purchase of BSA Health System.

The new joint venture of BCS and Ardent now owns the 445-bed BSA Hospital, the Don & Sybil Harrington Cancer Center, a network of primary care, urgent care, surgical and bariatric clinics and a preferred provider network, as well as majority interests in Physicians Surgical Hospitals, ADC (News - Alert) Endoscopy and Advanced Imaging Centers.

"This is absolutely the right ownership team to build on the excellence of BSA and position it for the future," said Steve Dalrymple, president and CEO of Baptist Community Services. "With millions of dollars in new investment, synergies from Ardent's hospital systems nearby and our current management team, physicians and employees, we will better serve our patients and communities."

Ardent subsidiaries own and operate hospitals, health plans and multi-specialty physician groups. Its healthcare operations serve Tulsa, Okla. and surrounding communities and Albuquerque and Roswell, N.M.

"During this due diligence process, we learned a great deal more about BSA and its physicians, nurses and employees," said David T. Vandewater, president and CEO of Ardent Health Services. "We are even more impressed about the quality of care, the customer service and the incredible culture that exists today throughout BSA. We are honored to be a part of the Amarillo community and this health system."

Key Commitments

As part of the new joint venture, Ardent Health Services will:

Preserve the BSA mission, name and management team.
Invest $50 million dollars into two specific projects:
- Constrution of a new expanded Emergency Room, and
- Building a new, state-of-the-art cancer center that will replace the Harrington Cancer Center.
Invest an additional $75 million into BSA over the next five years for additional services, new equipment and technology.
Guarantee all employees are hired and that benefits and compensation will remain essentially the same.
Endorse and support the current charity care policies of BSA and the Harrington Cancer Center.
Continue the chaplaincy program which serves the spiritual needs of BSA patients and families.
Retain current insurance and payer contracts, so employees in the region whose insurance currently includes BSA as a preferred provider will see no change.

A portion of the proceeds of the sale will go to create a $40 million Harrington Cancer Foundation that will perpetuate the ability for the Harrington Cancer Center to deliver state-of-the-art cancer care, to provide a broad spectrum of support services, and to continue to take care of patients regardless of their ability to pay.

Ardent subsidiaries will own 80 percent of the joint venture, and BCS will own 20 percent. Ardent and BCS will each appoint half of the joint venture governing board, which will ensure there will be substantial local governance and representation.

The price and the financial terms of the agreement are not being disclosed.

About Baptist Community Services

Baptist Community Services provides an array of high quality residential and rehabilitation services for seniors in Amarillo and Lubbock, anchored by Park Central Retirement Community and The Arbors skilled nursing facility in Amarillo. In addition, Baptist Community Services operates through an affiliate the Amarillo Town Clubs, exercise and wellness facilities, and is affiliated with High Plains Christian Ministries Foundation, which works in partnership with Christian organizations to reach others for Christ in Amarillo and around the world. Baptist Community Services (formerly High Plains Baptist Health Systems) and High Plains Christian Ministries Foundation were initiated in 1996 following the merger of High Plains Baptist Hospital and St. Anthony's Hospital.

About Baptist St. Anthony's Health System

Baptist St. Anthony's Health System (BSA) is a comprehensive healthcare system located in Amarillo, Texas, serving the Texas Panhandle and surrounding areas. BSA, the largest healthcare employer in the region, includes a 445-bed hospital, The Don & Sybil Harrington Cancer Center, a network of primary care, urgent care, surgical and bariatric clinics and a preferred provider network, as well as majority interests in Physicians Surgical Hospitals, ADC Endoscopy and Advanced Imaging Centers. BSA is nationally acclaimed for its excellent quality, outstanding customer service and advanced technology. During the past year, Thomson (News - Alert) Reuters has named BSA to its list of 100 Top U.S. Hospitals and 50 Top Cardiovascular Hospitals. BSA has the longest-tenured healthcare leadership team in the region.

About Ardent Health Services

Ardent Health Services invests in quality health care. In people, technology, facilities and communities, Ardent makes considerable investments - producing high quality care and extraordinary results. Based in Nashville, Tenn., Ardent's subsidiaries own and operate acute care health systems in three markets - Amarillo, Texas, Tulsa, Okla. and Albuquerque, N.M. - that include 14 hospitals, two health plans, three multi-specialty physician groups and 11 retail pharmacies.