ScionHealth Completes Acquisition of Cornerstone Healthcare Group

Combination Fulfills ScionHealth’s commitment to providing world-class care close to patients’ homes.

Louisville, Ky., January 23, 2023 /PRNewswire/ — ScionHealth today announced the closing of its previously announced acquisition of Cornerstone Healthcare Group (“Cornerstone”). The addition of Cornerstone’s talented caregivers and diverse portfolio of high-quality post-acute care facilities enhances ScionHealth’s position as a leading healthcare delivery network in 28 states and helps execute the organization’s strategic plan for growth and innovation. is an important step.

This acquisition adds ScionHealth’s network of 15 specialty hospitals, eight senior living locations and approximately 3,000 talented employees to expand access to high-quality care, drive innovation and improve the patient experience. This transaction expands ScionHealth’s national network of specialty and community-based hospitals and physician practices to provide needed care solutions in local communities across the country.

“The expansion of ScionHealth, through the acquisition of Cornerstone, demonstrates our platform for growth and our priority in supporting exceptional patient and employee experiences in hospitals closer to home,” said Rob JScionHealth Chief Executive Officer. “We are excited to add Cornerstone and its dedicated team members to ScionHealth, and look forward to leveraging best practices from both organizations to provide compassionate, quality-focused care to the patients we serve across the country. But put your trust in.”

“I’m pleased to welcome Cornerstone’s 3,000 talented caregivers who share our vision to provide best-in-class clinical expertise, healthcare solutions and innovation to the ScionHealth family of specialty hospitals.” Danny BryavzinskiPresident of ScionHealth’s Specialty Hospitals Division. “Within our expanded specialty hospital portfolio, we will continue to provide quality care and exceptional outcomes for the nation’s most complex medical patients.”

Concurrent with the closing of the transaction with Cornerstone, LifePoint Health successfully completes the purchase of Cornerstone Behavioral Health El Dorado Tucson, ArizonaFrom ScionHealth.

ScionHealth was set up end of 2021 With a focus on investing in community healthcare and based on commitments to excellent patient care and quality outcomes.

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

About ScionHealth
ScionHealth strives to deliver on its promise of high-quality, patient-centered hospital care that empowers hands to do what they do best. Health systems focused on driving innovation, serving their communities, and investing in people and technology to provide compassionate patient care and excellent health outcomes. based in louisvilleScionHealth operates 94 hospital complexes (76 specialty hospitals and 18 community hospital complexes and affiliated health systems) and eight senior living locations in 28 states. Please visit www.scionhealth.com for more information.

media Contact:
Scott Shepherd
Vice President, Communications & Marketing
Scion Health
[email protected]

forward-looking statements
This communication contains certain information, including statements regarding the expected timing, completion and effects of the proposed transaction involving ScionHealth and Cornerstone Healthcare Group, which may constitute forward-looking statements. Such forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. Such forward-looking statements include, among other things, statements regarding the benefits of the proposed transaction, including future financial and operating results, plans, objectives, expectations for ScionHealth and other statements that are not historical facts. Such statements are based on management’s current beliefs and expectations and are subject to significant risks and uncertainties beyond its control. These risks and uncertainties include, inter alia: the possibility that the anticipated benefits from the proposed transaction will not be achieved, or will not be realized within the expected time period; the occurrence of any event, change or other circumstance that may terminate the Proposed Transaction Agreement or cause the Proposed Transaction to close within the anticipated time frame or not at all; risks associated with the distraction of management from ongoing business operations due to the proposed transaction; risks associated with the retention of key employees; and the inability to obtain regulatory approval necessary for the proposed transaction or the receipt of such approval is subject to conditions not anticipated. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as otherwise required by law, neither ScionHealth nor Cornerstone Healthcare Group undertakes any obligation, and expressly disclaims any obligation, to update, replace or otherwise modify any, whether written or oral, which may be done from time to time. whether as a result of new information, future events or otherwise.

SOURCE ScionHealth

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