Clark Regional Medical Center has been acquired by LifePoint Hospitals Inc., a Brentwood, Tenn.-based company that operates 47 acute-care facilities in 17 states.
As part of the acquisition agreement, LifePoint has committed to invest approximately $60 million to build and equip a new 132,000-s.f. hospital to replace the existing 100-bed facility.
Construction on the new hospital is expected to begin this year and be completed within 18 to 24 months.
“Clark Regional Medical Center’s board of directors worked diligently to select the right partner for our hospital,” said Clark Regional CEO Bob Fraraccio.
“LifePoint’s mission and values are very consistent with ours, and that was critical to our decision. LifePoint operates non-urban hospitals very similar to Clark Regional and has a significant presence in the Lexington area. Most importantly, LifePoint is committed to delivering quality services to meet the needs of our community now and in the future. We believe this partnership is a great fit and will be a strong asset for our community.”
LifePoint has eight affiliated hospitals in Kentucky, including Bluegrass Community Hospital in Versailles, Bourbon Community Hospital in Paris, Georgetown Community Hospital in Georgetown, Jackson Purchase Medical Center in Mayfield, Lake Cumberland Regional Hospital in Somerset, Logan Memorial Hospital in Russellville, Meadowview Regional Medical Center in Maysville, and Spring View Hospital in Lebanon.