As the world grappled with COVID-19, the healthcare industry continued to make deals. Here we look back in chronological order at some of the biggest mergers and acquisitions that we covered in our Daily News online in 2021.

While much of our news focused on transactions involving industry OEMs, there was also a focus, later in the year, on market activity involving healthcare facilities and health systems.

Philips acquires Capsule Technologies for $635 million
Royal Philips announced in January that it was offering a cash consideration of $635 million to acquire Capsule Technologies from investment firm Francisco Partners.

The acquisition would expand the long-term partnership between Philips and Capsule, with the latter becoming part of Philips’ Connected Care segment.

"Through the acquisition of Capsule Technologies, we will add additional, essential, real-time patient data to further enhance patient monitoring and management, improve collaboration and streamline workflows," Steve Klink, head of the global press office and industry analyst relations for Philips, told HCB News.

Among Capsule’s offerings is its Medical Device Information Platform, which comprises device integration, vital signs monitoring and clinical surveillance services. It is designed to connect almost all existing medical devices and EMRs in hospitals through a vendor-neutral system and captures streaming clinical data for actionable insight into patient management.

Connected through Philips’ vendor-neutral cloud-based HealthSuite digital platform, the solution is expected to scale its patient care management solutions for all care settings in the hospital and boost remote patient care. It also would expand Philips’ current portfolio, which already includes real-time patient monitoring, therapeutic devices, telehealth, informatics and interoperability solutions.

“We look forward to integrating our strengths, adding a vendor-neutral medical device integration platform that further unlocks the power of medical device data to enhance patient monitoring and management, improve collaboration and streamline workflows in the ICU, as well as other care settings in the hospital and beyond its walls,” said Roy Jakobs, chief business leader, Connected Care at Royal Philips, in a statement.

The deal would bring Capsule’s leadership team and approximately 300 of its employees under Philips’ wing. “We are excited to join Philips and continue our mission of empowering clinicians with simplified workflows and timely, actionable insights,” said Hemant Goel, CEO of Capsule, in a statement.

Barclays served as financial advisor, and Kirkland & Ellis LLP as legal advisor to Capsule Technologies. The transaction is subject to certain closing conditions, including regulatory clearances in relevant jurisdictions outside of the U.S.

The deal is expected to be completed in the first quarter of 2021.


SmartBreast acquires MBI scanner assets of GE Healthcare, partners with FITI
SmartBreast Corporation acquired the Molecular Breast Imaging (MBI) assets of GE Healthcare in February, including designs for its MBI scanner, which it plans to manufacture with help from FoxSemicon Integrated Technologies (FITI).

Using a radiotracer and special camera, MBI is more efficient than mammography in identifying tumors in dense breast tissue, making it a potentially valuable tool for detecting breast cancer early in women with dense breast tissue. The acquisition is expected to make SmartBreast the largest global player in secondary screening and diagnostics for women with dense breasts, according to CEO James Hugg.

"Taken from a perspective that cancer is up to five times more frequent in DB, and that 40% of Western and 70% of Asian women have DB, plus that conventional mammography misses over 50% of cancers in DB, it becomes apparent that there is a need for secondary imaging modalities to clarify DB that is reported in a mammographic study," Hugg told HCB News.

The purchase of GE’s Discovery NM750b Molecular Breast Imaging assets includes MBI scanner designs, manufacturing tools, instructions, related patents and the installed-base service business. SmartBreast plans to rebrand the scanner as the EVE CLEAR SCAN e750 and do the same with another it recently acquired from Dilon Technologies, the Dilon Technologies D6800, rebranding it the EVE CLEAR SCAN e680.

With both MBI lines, SmartBreast will serve an install base of 217 customers, and can transition from a startup to a growth-stage company by having FDA 510(k)-cleared products to offer immediately.

A meta-analysis of screening studies in dense breasted women (BIRADS D3 and D4) showed 2D mammography (MMG) found 3.2 cancers per 1,000 women. When paired with breast ultrasound, it found 4.7 cancers, and 5.2 with digital breast tomosynthesis. MMG and breast MR yielded 10.2 cancers, while MMG with MBI yielded 12. "When compared with MR, MBI is more specific, which translates into fewer false positive findings and fewer negative biopsies. Furthermore, the cost of MBI is much less than MR," said Hugg.

SmartBreast will develop, market and distribute the scanners with FITI, which will be the contract manufacturer for both systems. The two will also integrate stereotactic MBI-guided biopsy and 3D-MBI technology to further enhance functionality. The new MBI scanner they plan to develop is expected to reduce cost of goods to enable more competitive end-user pricing; enable mounting either two CZT cameras (GE design) or one NaI camera (Dilon design) on a common gantry; and employ innovative collimation to 1) view chest wall, 2) guide biopsy, and 3) perform 3D-MBI imaging.

"SmartBreast and other partners will work together to harmonize the user interface and workstation, to deploy artificial intelligence to shorten the average image acquisition time and to aid clinical interpretation of the images," said Hugg.

EVO and a global network of distributors will market, sell, install, and service customers.

Fujifilm acquires Hitachi's diagnostic imaging business for $1.6 billion
In April, Fujifilm Corporation announced it had completed its $1.6 billion acquisition of Hitachi’s diagnostic imaging business.

The deal adds Hitachi’s CT, MR, X-ray and ultrasound systems to Fujifilm’s portfolio, as well as a 5.5% stake it holds in the global medical imaging market. It is expected to put Fujifilm, which holds 2.9%, close to Canon in terms of market share, which ranks fourth in the sector behind GE, Siemens and Philips, according to the Nikkei Asian Review.

"We are targeting a mid-July time frame to complete the branding transition," Jun Higuchi, president and CEO of Fujifilm Medical Systems U.S.A. Inc. and chairman and CEO of Fujifilm Sonosite Inc., told HCB News.

In addition to imaging modalities, the deal adds endoscopy, in vitro diagnostic systems and PACS to Fujifilm, including a new portfolio of endoscopic ultrasound PACS. Fujifilm’s advanced image processing technologies and AI solutions will be used alongside these products to create higher-value-added solutions based on medical IT that will enhance quality of care globally.

Discussions about the acquisition date back to late 2019, when it was priced at more than $1.5 billion. The COVID-19 pandemic, however, delayed moving forward with the deal, which at that point had risen in price to $1.6 billion.

The acquisition was an absorption-type company split deal. Hitachi split off its imaging business as a separate company that was absorbed by Fujifilm Healthcare Corporation, which was established to act as a successor to Hitachi. Following the completion of the deal, Fujifilm Healthcare Corporation is now operating as Fujifilm’s wholly-owned subsidiary.

The deal expands the medical equipment business of Fujifilm, which seeks to grow the competitiveness of Hitachi’s imaging diagnostic unit with its expertise in AI and IT. Hitachi plans to shift its focus to the global rollout of its particle therapy systems; strengthen its in-vitro diagnostic systems business for early disease detection; expand its cell manufacturing solutions in areas of regenerative medicine; and continue to offer high-value-added IT services.

"Hitachi's customers and provider partners will not experience a change in the way in which they are serviced," said Higuchi.


American Securities to acquire SimonMed for $600 million
American Securities has put forth $600 million in April to acquire radiology and imaging company SimonMed.

The hybrid practice consists of a large radiology group and 150 imaging centers. Both made the agreement in March and hope to close the deal by the end of April, according to private equity intelligence news resource, PE Hub.

Serving as both an outpatient diagnostic imaging provider and operator of its own radiology group, SimonMed employs 200 experienced subspecialty-trained radiologists across nine states, with its headquarters located in Scottsdale, Arizona.

It began exploring a possible sale back in January. Its auction attracted two other contenders, with the practice’s adjusted earnings tallied at $75 million before interest, taxes, depreciation and amortization. Lenders have been out with a loan in the last couple of weeks, which is structured as a club deal and led by JP Morgan Private Bank, reports PE Hub.

Its sale builds on American Securities’ healthcare portfolio, which already consists of North American Partners in Anesthesia, Aspen Dental, and Air Methods.

The acquisition is also considered to be a sign of further consolidation in healthcare, with other recent examples including six new partnerships established by Radiology Partners with practices providing services in California, Colorado, Idaho, Montana, Tennessee, Texas, Wisconsin and Wyoming; and Prestige Medical Imaging’s acquisition of G.E. Walker, a Southeast provider of radiology solutions and services.

American Securities declined to comment.


GE Healthcare acquires Zionexa
GE Healthcare acquired Zionexa in May with the intent to help develop and bring to market its pipeline biomarkers, including its recently FDA-approved PET imaging agent, Cerianna.

Also known as fluoroestradiol F-18, Cerianna is used as an adjunct to biopsy to detect estrogen receptor (ER)- positive lesions, and helps provide insights on which treatment plans may be best for a patient with recurrent or metastatic breast cancer. Currently available to a quarter of the relevant patient population, GE’s Pharmaceutical Diagnostics business plans to scale access to the tracer to a minimum of 75% of patients by 2023.

“This acquisition further demonstrates our commitment to enabling precision health and providing innovations that support oncologists, nuclear medicine specialists and other physicians throughout a cancer patient’s journey, from initial screening and diagnosis to informing therapy selection and monitoring the effectiveness of treatment,” said Kevin O’Neill, president and CEO of GE Healthcare Pharmaceutical Diagnostics, in a statement.

ER expression varies both within the primary tumor and across different lesions, making it challenging for oncologists to base clinical decisions on biopsy results that represent only the sampled area of the tumor. FDA-approved in December 2020, Cerianna provides a whole-body view of ER positive lesions to help determine a more informed diagnosis for the patient, and form potentially more targeted and individualized treatment plans. This spares patients from having to undergo inappropriate or less effective therapies.

“Since we know that ER expression can change with time and treatment, imaging with 18F-fluoroestradiol at critical decision points could help clinicians predict response to endocrine therapy and select optimal treatment timing and sequencing,” said Dr. Hannah Linden, breast medical oncologist at UW Medicine, University of Washington Fred Hutchison Cancer Research Center, and Seattle Cancer Care Alliance.

Its distribution earlier this year also made news when the Hospital Outpatient Prospective Payment System published the incorrect reimbursement rate for the radiopharmaceutical, marking payment as $0.752 per millicurie instead of $608.33 per millicurie.

Under the terms of the agreement, Zionexa will transfer its 24 employees in France and the U.S. to GE Healthcare, which will hire approximately 70 more dedicated employees for its U.S. Pharmaceutical Diagnostics team in Massachusetts.

Financial details were not disclosed.


Olympus acquires urological device maker Medi-Tate
Olympus Corporation acquired Medi-Tate, an Israeli manufacturer of urological technology, for $260 million in May.

The addition of Medi-Tate’s flagship product, iTind, expands Olympus’ stake in the market of in-office treatments for benign prostatic hyperplasia. CE marked and holding FDA de Novo authorization, iTind is designed as a minimally invasive solution for BPH, a common condition in aging men that is the most common cause of lower urinary tract infections.

"iTind preserves sexual function and continence and has a low adverse event profile. Leaving no permanent implant, the iTind procedure does not hinder future treatment options. iTind involves no heating or removal of prostate tissue," Scott Goldstein, men's health director of marketing for Olympus America Inc., told HCB News.

iTind is a temporarily implanted nitinol device that is placed in the prostate in a folded configuration and slowly expands and exerts gentle pressure at three precise points to reshape the prostatic urethra and bladder neck. After five to seven days, the solution is removed and leaves a wider opening through which patients can urinate more easily to relieve BPH symptoms. No hospital stays are required.

Unlike all other available treatment options, no heat or permanent implant is used with the iTind procedure, so there is typically no need to leave a Foley catheter in the urethra following the procedure. In addition, iTind has a short learning curve, requires no new capital investment and no general anesthesia.

The treatment can be performed by a urologist in an outpatient hospital, ambulatory surgery center or a physician’s office. Such procedures are expected to become more frequent because the disease is predicted to be seen more as the general population continues to age. Nearly 80% of men are predicted to be diagnosed with it in their lifetime, especially in older ages, according to the American Urological Association.

“We believe Olympus appreciates our focus on long-term clinical results and dedication of the entire Medi-Tate team,” said Ido Kilemnik, chief executive officer of Medi-Tate. “We are pleased to be joining Olympus, which shares our vision of making iTind the global standard for BPH treatment.”

Plans for the acquisition were based on a definitive agreement drawn up in 2018 where Olympus acquired a 17% minority stake in Medi-Tate with an option to buy the remaining shares of the company.

iTind is also for sale in the U.K., Israel, Australia and Brazil.


Private-equity group reaches deal to acquire Medline for $30 billion
Investment firms Blackstone, Carlyle, and Hellman & Friedman partnered together to fund a majority investment in healthcare supply manufacturer and distributor Medline Industries in June.

While the exact amount was not disclosed, it is believed to be more than $30 billion, making it one of the largest leveraged buyouts since the financial crisis, according to The Wall Street Journal.

Medline earned $17.5 billion in revenue in 2020 and plans to use funding from the investment to extend its product portfolio and expand internationally, as well as make new infrastructure investments to build up its global supply chain. "Making healthcare run better has been our focus for decades. This investment from some of the world's most experienced and successful private investment firms will enable us to accelerate that strategy while preserving the family-led culture that is core to our success," said Charlie Mills, chief executive officer of Medline, in a statement.

The three were reported to have beat out a rival bid from the private-equity arm of the Canadian investing firm Brookfield Asset Management Inc. The transaction is valued at $34 billion, including debt, and is more than $30 billion, excluding borrowings. This could make it potentially the largest healthcare LBO ever, reports The Wall Street Journal.

“With a deep commitment to sustainable value creation, we look forward to leveraging our combined operational capabilities, expansive healthcare network and capital to support organic and inorganic growth initiatives for the Company,” said Steve Wise, Carlyle's global head of healthcare.

News of a possible sale made headlines back in April, with the company said to have hired Goldman Sachs Groups Inc. to explore the option, alongside an IPO or a minority investment. Blackstone and Carlyle were among those reported to be considering a bid.

Medline will continue to be led by the Mill Family, which will remain the largest single shareholder. The entire senior management team will also remain.

Medline was founded in 1910 by A.L. Mills, and distributes surgical gowns, examination gloves and various types of diagnostic equipment to more than 125 countries.


Ochsner and Rush to merge into single health system in 2022
In June, Rush Health Systems inked a deal to merge with Ochsner Health and become Ochsner Rush Health.

The two are expected to finalize their consolidation in mid-2022 and in doing so, make access to high-quality and affordable care, and more clinical specialties, closer to home for patients in east Mississippi and west Alabama.

“We have recently worked with Ochsner on several initiatives, including the implementation of Epic, a best-in-class electronic medical records system, at our hospitals and clinics. Today’s news means that we are taking the next step in our partnership,” said Larkin Kennedy, president and CEO of Rush Health Systems, in a statement.

The agreement is expected to make specialized care and subspecialty services available to local communities. This includes cardiology and cardiovascular surgery, neurology and highly specialized stroke care, women’s services, cancer treatment and surgical oncology. Ochsner’s technological and digital capabilities will help expand telehealth, digital monitoring and AI guidance for clinical improvements.

Rush will also be able to grow existing programs and offer new services to its patients, who will be able to participate in Ochsner’s robust clinical research network. One of the largest in the Gulf South, the network will grant them access to novel therapies, including the latest cancer treatment, closer to home.

In addition, minimum wage for Rush employees will rise to $12 per hour following the merger. Both healthcare systems will be able to share best practices and resources to create more affordable care, and Ochsner will be able to invest more in programs and resources locally.

“For decades, our organizations have benefitted from a strong relationship, dating back to when Dr. Leslie V. Rush Sr. hosted Dr. Alton Ochsner on several occasions in the early 1970s as a guest speaker for special events,” said Dr. Robert Hart, chief medical officer at Ochsner Health, in a statement. “We are thrilled that our relationship has continued to evolve to benefit our patients.”

Oschsner Health recently merged with Lafayette General Health in Louisiana to form Ochsner Lafayette General for patients across the Acadiana (French) region. It included an investment of nearly half a billion dollars from Ochsner over the next 10 years and made it the largest healthcare provider in the Gulf South.

The merger will be completed following regulatory approval and governed by a board made up of Rush community members, physicians and representatives from Ochsner Health.

Rush will continue to use employed and independent physicians, and all medical staff will retain existing privileges. Patients may continue to use existing insurance at all facilities.


Boston Scientific to acquire Baylis Medical for $1.75 billion
Boston Scientific Corporation put up $1.75 billion in October to acquire Baylis Medical Company.

The addition of Baylis Medical adds its radiofrequency NRG and VersaCross Transseptal platforms for left heart access to Boston Scientific’s electrophysiology and structural heart product portfolios. Also included are a family of guidewires, sheaths and dilators.

Traditional use of mechanical needles to pass the septum and access the left side of the heart comes with safety concerns, and individual patient anatomies can make placing the needle correctly challenging. Baylis Medical Company solutions are designed to make crossing the atrial septum safer and more effective for providing treatment during procedures such as atrial fibrillation ablation, left atrial appendage closure and mitral valve interventions.

As a result, Baylis Medical Company has been able to achieve double-digit year-over-year sales growth in each of the last five years, and is expected to rack up net sales of close to $200 million in 2022, according to Boston Scientific. "All of these procedures require physicians to puncture the wall that separates the right atrium from the left atrium — also known as the septum — a procedure that the Baylis Medical technologies can streamline and make safer. As a result, the transseptal access market is expected to grow by double digits in the coming years."

Using RF energy, the NRG Transseptal Needle is designed to save time as it performs a transseptal puncture of the left heart, while reducing the risk for serious complications, compared to mechanical solutions. It can cross difficult anatomies and the septum at precise locations, localize the RF needle on mapping systems and reduce fluoroscopy time for transseptal puncture. In addition to the needle, the NRG Transseptal platform includes the ExpanSure Large Access Transseptal Dilator, NRG Large Access Solution for optimizing tissue dilation, TorFlex Transseptal Guiding Sheath, SureFlex Steerable Guiding Sheath, ProTrack Pigtail Wire, and the NRG RF Transseptal Kit.

The VersaCross RF Transseptal Solution offers the same benefits without the need for wire and sheath exchanges. This allows users to rely on only one solution from start to finish, helps mitigate risks, and streamlines operations and therapy delivery. It also comes with precise RF puncture technology. Its other component, the VersaCross Large Access Solution uses the exchangeless three-in-one RF wire and seamless dilator to allow for smooth delivery of large therapy sheaths.

"Specifically, the new VersaCross platform further streamlines transseptal crossing procedures and therapy delivery by offering the same benefits while eliminating potential wire and sheath exchanges, which may help mitigate risks during procedures," said Boston Scientific. "Bringing the two organizations together also allows for partnership in key development areas."

Baylis Medical Company’s solutions make transseptal access to the left side of the heart more predictable and safe. They also improve the safe and effective transseptal puncture of the left heart during procedures. The Baylis Medical product development activities are expected to continue at the Baylis Medical facilities in collaboration with Boston Scientific's rhythm management and interventional cardiology businesses headquartered in Minnesota. Boston Scientific expects its existing international market reach to open up new opportunities that will help accelerate the adoption of Baylis Medical technologies globally.

"We look forward to making these life-changing technologies available to more patients across the globe through the significant commercial reach of Boston Scientific,” said Kris Shah, president of Baylis Medical Company, in a statement.

Earlier this year, Boston Scientific acquired Preventice Solutions for $1.2 billion. The deal gave it access to mobile cardiac health solutions and services, ranging from ambulatory cardiac monitors to cardiac event monitors and mobile cardiac telemetry. It also, just last month, acquired Devoro Medical, the developer of the WOLF Thrombectomy Platform, which is designed with finger-like prongs to retrieve and remove thrombi in the arterial and venous systems.

The NRG platform was cleared by the FDA in 2008 and has been used in over one million procedures. VersaCross got clearance in 2020.

The deal is expected to be completed in the first quarter of 2022 and is expected to be approximately one cent accretive to adjusted earnings per share in 2022, and increasingly accretive thereafter. It is subject to customary closing conditions.


Intermountain Healthcare, SCL Health to merge into $14 billion, 33-hospital system
Intermountain Healthcare and SCL Health announced in September they inked a letter of intent to merge into a $14 billion health system spanning across six states.

The two nonprofits will operate 33 hospitals and run 385 clinics across Utah, Idaho, Nevada, Colorado, Montana and Kansas when the deal is completed. The combined system will employ over 58,000 caregivers and provide health insurance to about one million, according to Fierce Healthcare.

The deal is expected to be finalized and signed by the end of 2021, with the merger to close in early 2022, pending approvals. "American healthcare needs to accelerate the evolution toward population health and value, and this merger will swiftly advance that cause across a broader geography,” said Dr. Marc Harrison, president and CEO of Intermountain, in a statement.

The combined system is expected to be a model for faith-based and secular healthcare systems alike, with Intermountain offering its model of value-based care and population health expertise and SCL Health bringing experience in running an integrated healthcare organization across multiple states and in competitive markets.

Intermountain also brings a digital health platform and an extensive telehealth network. It previously planned to merge with Sanford Health last year into a system that was slated to operate 70 hospitals and 435 clinics across seven states. This deal, however, was put on hold following the controversial exit of Sanford Health president and CEO Kelby Krabbenhoft, who resigned after telling staff that he did not need to wear a mask. It was then cancelled in March 2021, according to Becker’s Hospital Review.

Intermountain and SCL Health currently serve adjacent, geographically separate areas. They plan to remain focused on their facilities’ pandemic-related needs while the merger moves forward. The resurgence of cases has left ICUs packed beyond capacity and hospitals with a lack of available beds. Like other providers, Intermountain made the difficult decision this past week to once again postpone elective and non-urgent procedures for several weeks to free up room for patients most in need.

On an unrelated note, Intermountain also shut down 25 of its retail pharmacies earlier this summer and transferred prescriptions and inventory to CVS pharmacy. It now operates only its home delivery pharmacy, special pharmacy, and its Primary Children’s Hospital retail pharmacy location.

Headquarters for the newly combined system will be in Salt Lake City, Utah, where Intermountain is situated. A regional office will be in Broomfield, Colorado, the home of SCL Health. Harrison will serve as president and CEO, while Lydia Jumonville, president and CEO of SCL Health, will retain her current position during a two-year integration, and be a board member of a newly combined board. The board of trustees and team leaders will be selected from both systems.

"We are two individually strong health systems that are seeking to increase care quality, accessibility, and affordability,” said Jumonville. “We will advance our missions and better serve the entire region together.”

While the organization will be named Intermountain Healthcare, SCL Health’s seven Catholic hospitals will retain their Catholic names and be run according to existing practices. The same does not apply to its one secular hospital in Colorado.


LifePoint Health to acquire Kindred Healthcare, launching new healthcare company
In October, LifePoint Health acquired Kindred Healthcare and with it, plans to launch a separate 79-hospital healthcare system that will be known as ScionHealth.

ScionHealth will be made up of Kindred’s 61 long-term acute care hospitals and 18 of LifePoint’s community hospitals and associated health systems. In the acquisition deal, LifePoint will combine its more than 65 remaining hospital campuses and its network of physician practices and outpatient centers with Kindred’s rehabilitation and behavioral health businesses following the closing of the transaction.

The acquisition and launch of the new company are expected to help make LifePoint a more diversified healthcare delivery network, said David Dill, president and CEO of LifePoint, in a statement. “In forming two companies with unique areas of focus, LifePoint Health and ScionHealth can improve access to quality care, create more opportunities for our employees and invest in our communities.”

LifePoint and ScionHealth will be well capitalized businesses and will focus on care at the bedside. They will invest in innovative service and technology to advance clinical efficiencies and compliance, to make healthcare more accessible and enhance community-based care. Each ScionHealth hospital will operate under the same name as it currently does, with communities still able to obtain care from their same providers.

Both LifePoint and ScionHealth will have separate leadership and boards of directors. ScionHealth will be headquartered in Louisville where Kindred currently is and be managed by both LifePoint and Kindred executives. Rob Jay, executive vice president of integrated operations at LifePoint, will become the CEO of ScionHealth. Dill, meanwhile, will remain president and CEO of LifePoint, which will continue to be headquartered in Nashville.

Benjamin Breier, CEO of Kindred Healthcare, will leave the company following the completion of the transaction. “Our patients and partners will greatly benefit from two well-capitalized and diversified companies that are unique in their focus but also share a deep commitment to quality care, collaboration, and creating great workplaces.”

LifePoint announced its intention to acquire Kindred back and invest $1.5 billion into the organizations back in June. Both companies are owned by private equity players. LifePoint was acquired by PE firm Apollo for $5.6 billion in 2018, while a number of PE groups, including Humana, bought Kindred in 2017 for $4.1 billion. The groups later split off its long-term care and home health businesses, according to Healthcare Dive. Humana agreed to buy the remaining stake in Kindred at Home for $5.7 billion in April of that year, the largest acquisition in the payer's history.

The acquisition is expected to be completed by the end of the year and will be subject to customary closing conditions. LifePoint and ScionHealth expect to enter into transition service arrangements to support operations at both companies following the closing.

No financial details were disclosed.