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ScionHealth to Acquire Care Provider Cornerstone Healthcare Group
Friday 13 May 2022

US-based hospital operator ScionHealth and US-based healthcare provider Cornerstone Healthcare Group have entered into a definitive agreement for ScionHealth to acquire Cornerstone, the companies said.

ScionHealth said the addition of Cornerstone's locations will enhance its ability to advance access to care and implement innovative solutions.

The transaction expands ScionHealth's national network of long-term acute care hospitals, community-based hospitals and physician practices to deliver life-saving care solutions for the nation's most medically complex patients.

ScionHealth was established in late 2021 with a focus on investment in community healthcare and grounded in commitments to outstanding patient care and quality outcomes.

The acquisition of Cornerstone is the first step in executing ScionHealth's strategic plan for growth and innovation.

Upon the completion of regulatory approvals and satisfaction of customary closing conditions, the acquisition of Cornerstone is expected to be completed in the second half of 2022.

Cornerstone Specialty Hospitals Clear Lake and Cornerstone Specialty Hospitals Houston Medical Center are excluded from the acquisition.

ScionHealth strives to provide acute and post-acute hospital solutions.

Based in Louisville, ScionHealth operates 79 hospital campuses in 25 states 61 long-term acute care hospitals and 18 community hospital campuses and associated health systems.

Cornerstone Healthcare Group Holding is a diversified healthcare company based in Dallas, Texas.
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Date Published: 13/05/2022

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