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The University of Kansas Health System And Ardent Health Services Finalize Purchase Of St. Francis Health

Ardent Health Services
Posted on: 01 Nov 17
The University of Kansas Health System And Ardent Health Services Finalize Purchase Of St. Francis Health Hospital renamed The University of Kansas Health System St. Francis Campus

PR Newswire

KANSAS CITY, Kan. and NASHVILLE, Tenn., Nov. 1, 2017

KANSAS CITY, Kan. and NASHVILLE, Tenn., Nov. 1, 2017 /PRNewswire/ -- The University of Kansas Health System and Ardent Health Services ("Ardent") today announced they have completed the purchase of St. Francis Health in Topeka, Kansas. The two organizations formed a joint venture to acquire St. Francis Hospital and clinics. Terms were not disclosed.

The hospital will be renamed The University of Kansas Health System St. Francis Campus and the system's 15 medical clinics will be known as The University of Kansas Physicians Topeka.

The sale marks a new chapter for the 378-bed hospital and medical clinics, which were near closure prior to the formation of the partnership. Ardent and The University of Kansas Health System have committed to invest $50 million in the system. Ardent will manage day-to-day operations while working closely with The University of Kansas Health System to provide clinical and financial resources to help the hospital and clinics succeed in today's changing health care environment.

"Today represents a new beginning for the associates, physicians, patients and community members who depend on St. Francis," said Bob Page, president and chief executive officer of The University of Kansas Health System. "With a shared focus on quality, the clinical resources of a major academic medical center and Ardent's strong track record of operating successful hospitals, the joint venture will provide the resources and support needed to sustain and grow the hospital and ambulatory sites to serve future generations."

The partnership brings together the state's only academic medical center and one of the nation's largest private, for-profit hospital operators. It is Ardent's seventh joint venture with a leading not-for-profit health system. The company, which operates 21 hospitals across seven states, also maintains partnerships with Seton Healthcare, Hackensack Meridian Health, Sacred Heart Health System and the University of New Mexico Health System among others.

The University of Kansas Health System St. Francis Campus will be led by local management. The University of Kansas Health System and Ardent will share governance with equal representation on the joint venture board of directors and will establish a local board of trustees for the hospital and clinics.

"After spending the past few months with the associates and physicians of the hospital and clinics, as well as our partners at The University of Kansas Health System, we are confident this partnership will provide the health system with a solid path forward," said David T. Vandewater, president and CEO of Ardent. "We are honored to be a part of this community and look forward to preserving the hospital's rich legacy while investing in its future."

About The University of Kansas Health System

The University of Kansas Health System is the region's premier academic medical center, providing a full range of care. The hospital is affiliated with the University of Kansas Schools of Medicine, Nursing and Health Professions, and their various leading-edge research projects. The constantly growing facility contains 768 staffed beds (plus 24 bassinets) and serves more than 37,500 inpatients annually.  Eight of its medical and surgical specialty areas are ranked nationally by the U.S. News & World Report "Best Hospital" lists, including Cancer (#25), Cardiology & Heart Surgery (#36), Gastroenterology and GI Surgery (#34), Geriatrics (#18), Nephrology (#46), Neurology & Neurosurgery (#26), Pulmonology (#32) and Urology (#17).  The cancer program is part of The University of Kansas Cancer Center, one of 69 National Cancer Institute-designated programs in the U.S.  The hospital has received Magnet nursing designation three times in a row, reflecting the quality of care throughout the hospital, an honor awarded three consecutive times to only 3.7 percent of the hospitals nationwide.  The hospital also houses the region's only accredited burn center, the area's only nationally accredited Level I Trauma Center and a leading quality transplant program in liver, pancreas, kidney, heart and bone marrow.  For more information, visit KansasHealthSystem.com. The University of Kansas Hospital receives no state appropriations and is financed through operating revenue, bonding authority and philanthropy.

About Ardent Health Services

Ardent Health Services invests in people, technology, facilities and communities, producing high-quality care and extraordinary results. Based in Nashville, Tennessee, Ardent's subsidiaries own and operate 21 hospitals in seven states with more than 19,000 employees including nearly 600 employed physicians. Ardent facilities exceed national averages in Overall Hospital Quality Star Rating as ranked by the Centers for Medicare & Medicaid Services; 89 percent of its hospitals received a three-star rating or above in comparison with 78 percent of all hospitals ranked. Seven of the company's hospitals were recognized by Modern Healthcare as "Best Places to Work" in 2017 – more than any other system in the country.

Ardent operations are owned by an affiliate of Equity Group Investments (EGI), a Chicago-based private investment firm; Ventas, Inc., a leading real estate investment trust; and members of Ardent's executive management team. For more information, visit www.ardenthealth.com.

Contact:
Tyra Palmer                                                                    Media Line
Ardent Health Services                                                  The University of Kansas Health System
(615) 296-3146                                                               (913) 588-5246
tpalmer@ardenthealth.com                                      

View original content:http://www.prnewswire.com/news-releases/the-university-of-kansas-health-system-and-ardent-health-services-finalize-purchase-of-st-francis-health-300547335.html

SOURCE Ardent Health Services

PR Newswire
www.prnewswire.com

Last updated on: 01/11/2017

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