Ardent Health Services

Last updated

Ardent Health Services
Company type Public
Founded1993
FounderEdward Stack
Headquarters
Nashville, Tennessee
,
United States
Key people
Martin J Bonick, CEO
Owner Ventas
Equity Group Investments
Number of employees
15,300 [1]
Website www.ardenthealth.com

Ardent Health Services, formerly known as Behavioral Healthcare Corporation is a for-profit healthcare company based in Nashville, Tennessee, United States.

Contents

History

The Behavioral Healthcare Corporation was founded in 1993 by Edward Stack. [1] [2] Until 2001, it was a privately held company owned by Kindred Healthcare and Welsh Carson Anderson & Stowe and several individual investors and focused owning and operating behavioral health facilities. [1] It currently owns and operates hospitals in Tulsa, Oklahoma, Albuquerque, New Mexico, Amarillo, Texas, Pocatello, Idaho, Topeka, Kansas, 2 in New Jersey and, as of March 1, 2018, UTHET in Tyler, Texas.

By 2001, the private equity firm Welsh, Carson, Anderson & Stowe became majority shareholders and changed the name of the company. [3]

The company sold its behavioral health operations to Psychiatric Solutions, Inc. in 2005. [2]

In 2015, Ventas acquired the company for $1.75b through a traditional sale-leaseback transaction where Ventas remained the owner of essentially all of Ardent's real property interests while a joint venture between Equity Group Investments, Ventas and several members of management acquired its hospital operations. [4]

In February 2018, Ardent Health Services acquired the East Texas Medical Center (ETMC) hospital system, and created the Tyler Regional Hospital, LLC, [5] purchased the name-rights of the University of Texas Health Sciences Brand, and created a Doing-Business-As name of "UT Health Tyler". [6] Tyler Regional Hospital, LLC continues operating under the UT Health Brand but is not currently under the University of Texas umbrella of administration. Currently, the University of Texas system owns a 30% share in the hospital while Ardent Health owns a 70% share. [7]

In February 2020, Ardent Health Services president and CEO David T. Vandewater announced his plans to retire from the company. He remained president and CEO until a successor was named. [8]

In August 2020, Ardent Health Services appointed Martin J. Bonick as president and CEO. [9] Today the company has 26,000 employees, 30 hospitals and over 200 sites of care in six states.

References

  1. 1 2 3 "Company Overview of AHS Medical Holdings LLC". Bloomberg Business. Retrieved January 11, 2016.
  2. 1 2 "America's Largest Private Companies: #292 Ardent Health Services". Forbes. Retrieved January 11, 2016.
  3. ↑ "History". Ardent Health Services. Archived from the original on April 24, 2015. Retrieved January 11, 2016.
  4. ↑ Chen, Angela (July 7, 2015). "Equity Group Investments to Take Majority Stake in Ardent's Hospital Operations: Deal values Ardent at about $475 million". The Wall Street Journal. Retrieved January 11, 2016.
  5. ↑ "Tyler Regional Hospital Llc in Tyler, Texas - General Acute Care Hospital Address and Contact". npino.com. Retrieved December 22, 2023.
  6. ↑ "Ardent Health Services and The University Of Texas System Announce New Name For 10-hospital System | Ardent Health Services". ardenthealth.com. Retrieved December 22, 2023.
  7. ↑ McCoy, Cory (February 15, 2018). "UT Board of Regents approves $35 million partnership with Ardent Health Services, system to be known as UT Health East Texas". TylerPaper.com. Retrieved December 22, 2023.
  8. ↑ "Ardent Health Services President & CEO Announces Retirement from Company". www.businesswire.com. February 20, 2020. Retrieved March 3, 2020.
  9. ↑ "Ardent Health Services Names Martin Bonick President & CEO". August 17, 2020.


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