ScionHealth Completes Acquisition of Cornerstone Healthcare Group

ScionHealth at this time reported the shut of its beforehand introduced acquisition of Cornerstone Healthcare Group (“Cornerstone”). The addition of Cornerstone’s proficient caregivers and diversified portfolio of high-quality post-acute care amenities enhances ScionHealth’s place as a number one healthcare supply community throughout 28 states and is a vital step in executing the group’s strategic plan for development and innovation.

The acquisition provides 15 specialty hospitals, eight senior residing places and roughly 3,000 proficient workers to ScionHealth’s community to advance entry to high-quality care, improve innovation and enhance the affected person expertise. The transaction expands ScionHealth’s nationwide community of specialty and community-based hospitals and doctor practices to ship important care options in native communities nationwide.

“ScionHealth’s enlargement, by the acquisition of Cornerstone, demonstrates our platform for development and our precedence in supporting distinctive affected person and worker experiences in hospitals near dwelling,” mentioned Rob Jay, chief govt officer of ScionHealth. “We’re excited so as to add Cornerstone and its devoted group members to ScionHealth, and desirous to leverage greatest practices from each organizations to proceed delivering compassionate, quality-focused care to sufferers throughout the nation who place their belief in us.”

“I’m happy to welcome the three,000 proficient caregivers from Cornerstone who share our imaginative and prescient to ship best-in-class scientific experience, healthcare options and innovation to ScionHealth’s specialty hospital household,” mentioned Danny Brywczynski, president of ScionHealth’s Specialty Hospital Division. “Inside our expanded specialty hospital portfolio, we’ll proceed to ship high quality care and distinctive outcomes for the nation’s most medically advanced sufferers.”

Simultaneous to the shut of the transaction with Cornerstone, Lifepoint Well being efficiently accomplished the acquisition of Cornerstone Behavioral Well being El Dorado in Tucson, Arizona, from ScionHealth.

ScionHealth was established in late 2021 with a concentrate on funding in neighborhood healthcare and grounded in commitments to excellent affected person care and high quality outcomes.

Sidley Austin LLP and Paul, Weiss, Rifkind, Wharton & Garrison, LLP served as authorized counsel to ScionHealth.

About ScionHealth
ScionHealth strives to ship on its promise of high-quality, patient-centered hospital care by empowering the arms that heal to do what they do greatest. The well being system is targeted on driving innovation, serving its communities, and investing in folks and expertise to ship compassionate affected person care and wonderful well being outcomes. Based mostly in Louisville, ScionHealth operates 94 hospital campuses (76 specialty hospitals and 18 neighborhood hospital campuses and related well being techniques) and eight senior residing places in 28 states. For extra info, please go to

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Ahead-Trying Statements
This communication accommodates sure info, together with statements as to the anticipated timing, completion and results of the proposed transaction involving ScionHealth and Cornerstone Healthcare Group, which can represent forward-looking statements. Such forward-looking statements are topic to dangers and uncertainties, and precise outcomes might differ materially. Such ahead trying statements embody, amongst others, statements about the advantages of the proposed transaction, together with future monetary and working outcomes, plans, aims, expectations for ScionHealth and different statements that aren’t historic information. Such statements are primarily based on the present beliefs and expectations of administration and are topic to important dangers and uncertainties outdoors of its management. These dangers and uncertainties embody, amongst others: the likelihood that the anticipated advantages from the proposed transaction won’t be realized, or won’t be realized throughout the anticipated time durations; the prevalence of any occasion, change or different circumstances that would give rise to termination of the proposed transaction settlement or trigger the proposed transaction to not shut throughout the anticipated timeline or in any respect; dangers related to the disruption of administration’s consideration from ongoing enterprise operations as a result of proposed transaction; dangers related to the retention of key workers; and the shortcoming to acquire essential regulatory approvals of the proposed transaction or the receipt of such approvals being topic to circumstances that aren’t anticipated. Readers are cautioned to not place undue reliance on these forward-looking statements, which converse solely as of the date hereof. Besides as in any other case required by legislation, neither ScionHealth nor Cornerstone Healthcare Group undertakes any obligation, and expressly disclaims any obligation, to replace, alter or in any other case revise any forward-looking statements, whether or not written or oral, which may be made every now and then, whether or not on account of new info, future occasions or in any other case.

SOURCE ScionHealth

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