LifePoint Hospitals, Inc. (NASDAQ: LPNT), a leading hospital company focused on providing quality healthcare services close to home, and Sumner Regional Health Systems (SRHS), a comprehensive three-market hospital system serving 11 counties in the northern middle Tennessee region, today announced that LifePoint’s purchase of SRHS for $145 million plus working capital was approved by the United States Bankruptcy Court for the Middle District of Tennessee.  The court approval follows SRHS filing for Chapter 11 bankruptcy protection on April 30, 2010, and undergoing a court approved bidding and sale process.

The closing of the transaction remains subject to the approval of the Attorney General and satisfaction of customary closing conditions.

“LifePoint strives to find partners that share our commitment to making communities healthier,” said LifePoint President and Chief Executive Officer William F. Carpenter III.  “With talented medical staff and employees who are tremendously dedicated to their patients and community, Sumner Regional Health Systems is an ideal match for us.  We are delighted to welcome the system to our family of hospitals and are particularly excited to expand our presence in Tennessee.”

Under the terms of the sales agreement, LifePoint will make $60 million in capital investments in SRHS over the next ten years.  Additionally, LifePoint will provide charity care to residents of the communities served by SRHS. 

Carpenter added, “LifePoint is committed to doing all we can to ensure the health and well being of the communities served by SRHS, and we look forward to collaborating with representatives ofSumner County to see how we can meet the unique needs of residents.”

Based in Gallatin, Tenn., SRHS is comprised of Sumner Regional Medical Center, the 155-bed flagship hospital located in Gallatin; Riverview Regional Medical Center, an 88-bed medical center with two campuses located in Carthage; and Trousdale Medical Center, a 25-bed critical access hospital in Hartsville.

“We have worked diligently to enable SRHS to achieve its goal of becoming a viable, sustainable, high-quality health system for the long-term, and we are confident that SRHS will achieve that goal as part of LifePoint Hospitals,” said Roger E. Kaiser, Jr., M.D., CEO of SRHS. “LifePoint shares the same values and focus on improving the health of our communities that is the foundation of our health system, and as part of their company, our hospitals will be better positioned to care for the communities we serve into the future.” 

SRHS has been operating as a tax-exempt entity. Because LifePoint is a tax-paying organization, the communities served by SRHS will benefit from significant new revenues generated from both city and county taxes.  

LifePoint operates 48 additional healthcare facilities across the nation, including six in Tennessee. LifePoint’s affiliated hospitals in Tennessee include Athens Regional Medical Center in Athens,Crockett Hospital in Lawrenceburg, Livingston Regional Hospital in Livingston, Hillside Hospital in Pulaski, Emerald-Hodgson Hospital (a campus of Southern Tennessee Medical Center) in Sewanee, and Southern Tennessee Medical Center in Winchester.

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