M&A news: Duke LifePoint Healthcare announced today that it has signed a definitive agreement to acquire Conemaugh Health System.
The financial terms of the agreement exceed $500 million and include a commitment by Duke LifePoint to invest $425 million in Conemaugh’s services and facilities over the next 10 years.
Duke LifePoint will acquire Conemaugh Health System’s three hospitals, outpatient centers and Conemaugh Physician Group practices.
Proceeds remaining from the transaction will be used by a locally governed charitable foundation to fund future programs to meet community needs.
Duke LifePoint will offer employment to all Conemaugh Health System employees and will work with Conemaugh leaders to establish a local board of trustees that includes members of the local community, local physicians and a representative from Duke.
For further deal information visit Current Agreements (subscription required)
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