Steward Health Care acquires Franklin-based Iasis Healthcare, becomes largest private hospital operator in United States


Steward Health Care acquires Franklin-based Iasis Healthcare, becomes largest private hospital operator in United States

By BROOKE WANSER

On Friday, Iasis Healthcare LLC announced that it had been acquired by Steward Health Care LLC.

The acquisition, which was originally announced in May, coupled the Boston-based Steward with Iasis, which will now go by the Steward label. Though the company didn’t release details about the price tag, the Wall Street Journal reported that the acquisition was completed for $1.9 billion.

According the a press release on their website, Steward will oversee 36 individual hospitals across ten states. Hospitals in Arizona, Arkansas, Colorado, Louisiana, Texas and Utah will join their fold.

With the merger, Steward is now the largest private hospital operator in the U.S. with a reported 37,000 employees, 1,400 employed physicians and 4,700 integrated network physicians.

Iasis’ chief executive officer W. Carl Whitmer announced that he would step down as president and CEO, the Nashville Business Journal reported.

The Nashville Business Journal also recently released rankings of the biggest private companies based on revenue from last year, in which Franklin-based Iasis, now Steward, ranked at number three.

Brooke Wanser is the associate editor for the Franklin Home Page, and can be reached at brooke.wanser@homepagemediagroup.com. Follow her on Twitter at @BWanser_writes or @FranklinHomepg.

About The Author

Brooke Wanser is the associate editor for the Franklin Home Page, and can be reached at brooke.wanser@homepagemediagroup.com. Follow her on Twitter at @BWanser_writes or @FranklinHomepg.

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