Ardent Health Services

Ardent Health Services
Company typePublic
Founded1993
FounderEdward Stack
Headquarters
Nashville, Tennessee
,
United States
Key people
Martin J Bonick, CEO
OwnerVentas
Equity Group Investments
Number of employees
15,300[1]
Websitewww.ardenthealth.com

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

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.]s 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] The "Tyler Regional Hospital, LLC" business 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 will remained as 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. ^ a b c "Company Overview of AHS Medical Holdings LLC". Bloomberg Business. Retrieved January 11, 2016.
  2. ^ a b "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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