River Parishes Hospital bought

Published 12:00 am Saturday, June 5, 2004

By SUE ELLEN ROSS – Staff Reporter

LAPLACE – Reflecting the same procedure as buying a home, LifePoint Hospitals Inc. of Brentwood, Tenn. has met another step in their accquision of River Parishes Hospital.

The company signed a definitive agreement May 26 to purchase the 22-year-old facility that includes 106 beds and employs approximately 450 workers.

Purchase price is approximately $24 million, excluding working capital.

The deal is scheduled to officially close on June 30, 2004, subject to regulatory approvals and other customary closing conditions.

LifePoint Hospital, Inc. officials could not be reached for comment.

The company, however, did issue a statement on May 26 when they announced their final decision to buy the LaPlace hospital.

In that statement, they alluded to the fact that their company felt that River Parishes Hospital fell within their operating strategy, and would be a welcome addition to their group of medical facilities.

“We look forward to working with the hospital and its medical staff, to expand the scope of services to this rapidly-growing community, and to serve the needs of the surrounding areas,” said LifePoint Hospitals, Inc. CEO Kenneth C. Donahey.

The new parent company operates 29 other hospitals in non-urban communities.

“I feel very positive about LifePoint acquiring our hospital,” said Robert Prehn, River Parishes Hospital CEO.

“They are a company with a strong history of supporting a hospital such as ours.”

In added that he does not anticipate any immediate changes in services, staffing or insurance acceptance.