New territory; Ardent to acquire Okla. system for $281 million.(The Week In Healthcare)(Ardent Health Services)

Modern Healthcare, May, 2004 by Galloro, Vince

Byline: Vince Galloro

Ardent Health Services, Nashville, is venturing into a new state with a plan to buy a hospital system in Tulsa, Okla., and its soon-to-be competitors are happy to hear it.

Ardent said it would pay $281.2 million to acquire not-for-profit Hillcrest HealthCare System, Tulsa, with a commitment to invest $100 million in the system.

Hillcrest owns three hospitals in Tulsa and operates 10 other hospitals in Oklahoma through lease arrangements.

Three of the leased hospitals that are among the farthest from Tulsa-located in Coalgate, Fairfax and Prague, Okla.-will not be included in the deal, said David Vandewater, Ardent's chief executive officer. The company wants to negotiate new operating agreements with the owners...

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