Why LifePoint Is Surging
LifePoint Health shares made a solid gain on to start off the week after it was announced that the private equity firm Apollo Global Management would be acquiring it.
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LifePoint Health Inc. (NASDAQ: LPNT) shares made a solid gain on to start off the week after it was announced that the private equity firm Apollo Global Management LLC (NYSE: APO) would be acquiring it. According to the deal, Apollo is spending $5.6 billion for the hospital chain.
In terms of the breakdown, LifePoint shareholders will receive about $65 in cash for each share. Upon completion of the transaction, the combined company will be privately held, operate under the LifePoint Health name and be led by William F. Carpenter III, board chair and chief executive officer of LifePoint.
The transaction is expected to be completed over the course of the next several months, subject to customary closing conditions, including approval by LifePoint’s shareholders and receipt of applicable regulatory approvals.
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Carpenter, commented
LifePoint and RCCH are aligned in our missions and commitment to ensuring that non-urban communities across the country have access to quality care, close to home. Together, we can extend this shared focus while generating new opportunities for growth and partnerships that will help us navigate the changing healthcare industry dynamics. I am eager to work with the outstanding teams at LifePoint and RCCH as we continue advancing high quality patient care and Making Communities Healthier.
Shares of LifePoint were last seen up about 34% at $64.07, with a consensus analyst price target of $52.78 and a 52-week range of $41.45 to $66.00.
Shares of Apollo were last seen at $35.48, with a consensus analyst price target of $39.32 and a 52-week range of $27.33 to $37.35.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
