Steward To Create US Hospital Operating Giant With IASIS Buy

Law360, New York (May 19, 2017, 12:26 PM EDT) -- Private equity-backed Steward Health Care LLC on Friday agreed to absorb IASIS Healthcare LLC, in a deal the companies say creates the largest private for-profit hospital operator in the U.S.

The terms of the transaction were not disclosed, though a report from Dow Jones said the deal is worth $1.9 billion. The companies are projecting combined revenues of nearly $8 billion in 2018, according to a statement. The new entity, which will operate under the Steward brand, will boast 36 hospitals across 10 states, and managed...
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