Apollo to Buy LifePoint in $5.6 Billion Deal

Apollo Global Management will buy LifePoint Health in a $5.6 billion deal that will expand its rural U.S. hospitals business, CNBC reports. The deal, which was announced on Monday, will bring together LifePoint and Apollo's Brentwood-based RCCH HealthCare Partners, which also recently assumed control of bankrupt hospital chain Trios Health.
LifePoint canceled its Q2 earnings call immediately following the announcement of the $5.6B deal with Apollo. The company said that it will accept competing bids until Aug. 22.
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Brentwood Based Healthcare Company to Assume Control of Bankrupt Hospital Group

Brentwood-based RCCH Healthcare Partners could take control of recently bankrupt Trios Health facilities in less than a month, reports the Tri-City Herald. The transfer is part of a bankruptcy plan that earmarks $3.95 million for unsecured creditors, with RCCH contributing most of the money. RCCH pledged to employ all Trios employees, saving an estimated 1,000 jobs. You can view the order here.

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