Bell Hospital Signs Definitive Agreement to Be Acquired by LifePoint Hospitals

  Bell Hospital Signs Definitive Agreement to Be Acquired by LifePoint
  Hospitals

 Agreement includes funds for capital improvements at Ishpeming hospital and
          creation of a local foundation to support community needs

Business Wire

ISHPEMING, Mich. -- June 21, 2013

The Bell Hospital Board of Directors today announced it has signed a
definitive agreement to be acquired by LifePoint Hospitals®. The agreement is
subject to review by the Attorney General of Michigan.

“We are pleased to have reached this agreement and look forward to taking the
next step in the acquisition process,” said Robert DellAngelo, M.D., Chairman
of the Bell Hospital board. “The due diligence we have conducted since March
has confirmed the tremendous benefit this acquisition can offer Bell
Hospital’s employees, physicians, patients and community. As part of
LifePoint, we will have the resources we need to grow and strengthen our
hospital, and help advance healthcare throughout the Upper Peninsula.”

As a LifePoint hospital, Bell will have access to financial, clinical and
operational resources and support to improve quality care, reduce operational
costs, recruit and retain physicians, offer new opportunities for employees,
and invest in state-of-the-art equipment and facility upgrades.

Under the terms of the definitive agreement, LifePoint has committed to
providing $5 million in capital investment at Bell over the next decade.
Additionally, proceeds from the acquisition transaction will be used to
eliminate Bell’s debt. All remaining proceeds – approximately $1 million –
will be used to fund a locally-governed charitable foundation to support
crucial needs in the community.

“Bell is a great hospital that plays an important role in the health and well
being of Ishpeming and the surrounding region,” said LifePoint Chairman and
Chief Executive Officer William F. Carpenter III. “We are excited at the
prospect of welcoming Bell to LifePoint and working with the hospital’s board,
physicians and employees to make this community healthier.”

As part of LifePoint, the hospital would become a taxpaying organization,
providing an important source of new tax revenue to support the Ishpeming
economy.

“Our team has been impressed by LifePoint and its ideas for the future of Bell
Hospital and healthcare in the Upper Peninsula,” said Floyd Bounds, Bell
Hospital CEO. “This acquisition offers great opportunities for our hospital to
grow and provide more and better services to our patients. We look forward to
the next phase of this process.”

About Bell Hospital

Bell is a 25-bed critical access hospital with more than 350 employees serving
the healthcare needs of people throughout Marquette County. Bell has more than
90 physicians on its active and consulting medical staff with specialties in
Family Practice, Pediatrics, Internal Medicine, Obstetrics and Gynecology,
Orthopedics, Urology, Emergency Medicine, Pathology, Radiology, Ophthalmology
and Otolaryngology.

About LifePoint Hospitals

LifePoint Hospitals® ^ is a leading hospital company focused on providing
quality healthcare services close to home. Through its subsidiaries, LifePoint
operates 57 hospital campuses in 20 states. With a mission of “Making
Communities Healthier®,” LifePoint is the sole community hospital provider in
the majority of the communities it serves. More information about the Company,
which is headquartered in Brentwood, Tennessee, can be found on its website,
www.LifePointHospitals.com. All references to “LifePoint,” “LifePoint
Hospitals,” or the “Company” used in this release refer to LifePoint
Hospitals, Inc. or its affiliates.

Contact:

Bell Hospital
Ruth Solinksi, 906-485-2796
ruth.solinski@bellmi.org
or
LifePoint Hospitals
Diane Huggins, 615-565-1817
Diane.Huggins@LPNT.net
 
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