Post Acquisition Announcement, Ardent Health Services to Launch Refinancing

  Post Acquisition Announcement, Ardent Health Services to Launch Refinancing

Business Wire

NASHVILLE, Tenn. -- October 25, 2012

After announcing the formation of a joint venture with Baptist Community
Services (BCS) of Amarillo, Texas, to acquire BSA Health System, Ardent Health
Services intends to pursue a $1.02 billion senior secured financing

The acquisition, announced Monday, Oct. 22, will result in a new joint venture
that will own and operate BSA, an Amarillo, Texas-based health system that

  *a 445-bed flagship hospital,
  *the Don & Sybil Harrington Cancer Center,
  *a network of primary care, urgent care, surgical and bariatric clinics,
  *a preferred provider network,
  *interests in ADC Endoscopy, Advanced Imaging Center, and the two locations
    of Physician Surgical Hospitals, and
  *$425 million in net patient revenues LTM at Aug. 31, 2012.

Ardent will own 80 percent of BSA and BCS will own the remaining 20 percent,
although the two organizations will equally share governance. BCS and
Dallas-based CHRISTUS Health have shared ownership of BSA since 1996. The
acquisition is expected to close in January 2013.

Bank of America Merrill Lynch and Barclays have provided fully committed debt
financing to Ardent. The proceeds will refinance Ardent’s existing senior
secured credit facilities, as well as finance its portion of the acquisition.

Ardent Health Services invests in quality health care. In people, technology,
facilities and communities, Ardent makes considerable investments – producing
high quality care and remarkable results. Based in Nashville, Tenn., Ardent’s
subsidiaries own and operate 11 hospitals, a 236,000-member health plan, two
multi-specialty physician groups with 230 providers and 11 retail pharmacies.
For more information, go to


Ardent Health Services
Kevin Gwin, 615-296-3146
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