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LifePoint Health finalizes merger with RCCH HealthCare Partners

By MATT BLOIS

LifePoint Health has finalized its merger with RCCH HealthCare Partners, according to a statement released by LifePoint on Friday afternoon.

The purchase of LifePoint means that it will no longer be listed on the New York Stock Exchange starting Friday.

The new private company will still be called LifePoint Health, and its headquarters will remain in Brentwood.

At a meeting on October 29, holder of a majority of the outstanding shares of LifePoint’s common stock voted to approve the merger. The decision to merge was approved almost unanimously.

During the special meeting, stockholders also voted on a “golden parachute” severance package for some of the top executives for LifePoint.

The severance package awards several top executives millions of dollars if there is change of control — such as a merger — and they are fired or don’t receive a similar position in the new organization.

That vote was advisory, but about 83 percent of stock holders voted against it. 

Following the merger LifePoint’s CEO William Carpenter will retire. The former LifePoint COO David Dill will become the CEO of the new company.

LifePoint shareholders will receive $65 per share as a result of the deal.

By | 2018-11-16T22:58:03+00:00 November 19th, 2018|Categories: Business, BW-Healthcare, Featured|Tags: |Comments Off on LifePoint Health finalizes merger with RCCH HealthCare Partners

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