CHICAGO, ILLINOIS (September 2010) - We are pleased to announce that Navigant Capital Advisors, LLC (NCA) advised Sumner Regional Health Systems, Inc. ("SRHS") in the closing of its sale to LifePoint Hospitals, Inc. (NASDAQ: LPNT) ("LifePoint").
At the directive of SRHS' Board of Directors, NCA structured and negotiated the successful sale transaction with LifePoint for a cash price of $156.8 million. Upon execution of the definitive purchase agreement for the sale of substantially all of SRHS' assets, SRHS filed for protection under the U.S. Bankruptcy Code in April. LifePoint was selected as the prevailing bidder in the §363 sale process.
The sale was initiated after a year long operating turnaround that restored the hospital's cash flow through the completion of major performance improvement initiatives. These initiatives were led by Navigant professionals who assumed the roles of Chief Executive Officer, Chief Restructuring Officer, Vice President of Finance, and Head of Strategy, as well as a multi-disciplinary team of performance improvement specialists focused in the areas of revenue cycle improvement, purchasing and supply chain management, coding and clinical documentation, and clinical productivity.
Edward R. Casas, Senior Managing Director and Head of Navigant Capital Advisors, commented: "We are extremely pleased that we were able to position Sumner Regional for this successful sale to LifePoint. This transaction adds four quality hospitals in attractive, growing markets to the LifePoint organization."
SRHS operates as a private, not-for-profit healthcare organization serving an eleven county region in north-central Tennessee. Headquartered in Gallatin, Tennessee, SRHS is the predominant healthcare provider in such region providing a wide array of general and specialized healthcare services in both inpatient and outpatient settings through its four community-based acute care hospitals - Sumner Regional Medical Center, Trousdale Medical Center, Riverview Regional Medical Center North, and Riverview Regional Medical Center South - and multiple healthcare affiliates.
LifePoint is a leading hospital company focused on providing quality healthcare services in non-urban communities. Through its subsidiaries, LifePoint operates 48 hospital campuses in 17 states.







