Portneuf Medical Center parent company finalizes acquisition

On Wednesday afternoon Portneuf Medical Center has been able to confirm with us the hospital’s Texas-based parent company, LHP, has been acquired by the Tennessee-based Ardent Health Services.

Ardent Health Services is now the second largest private, for-profit hospital operator in the country with 19 hospitals in six states.

Rumors of the acquisition first surfaced back in October, but on Monday, the company finalized the deal.

Portneuf Medical Center representatives were told not to disclose the transaction before it was finalized, but were allowed to confirm the questions we had surrounding the event.

The hospital assures this deal will not impact any current jobs or partners with Portneuf Medical Center, whatsoever. So, rest-assured – your doctor will still be around.

In the release, Ardent Health Services states, “Ardent will continue LHP’s emphasis on joint venture partnerships with top-tier, not-for-profit and academic health systems, and the Company has assumed LHP’s management and operational responsibilities within each of its existing partnerships.”

Before the acquisition, Portneuf Medical Center was owned by LHP, several physicians, and the Portneuf Health Trust. Currently, that remains the same with the replacement of LHP by Ardent Health Services.

Terms of the transaction were not disclosed.

LHP has owned Portneuf Medical Center since 2009.