Ardent Health (NYSE:ARDT) Company Profile
Ardent Health (NYSE:ARDT), founded in 1993 and formerly known as Behavioral Healthcare Corporation, is the fourth-largest private for-profit hospital operator and a leading healthcare service provider in the United States. Through continuous acquisitions and development, its business covers multiple states, holding an important position in the healthcare industry.
I. Company Introduction
Ardent Health was founded in 1993, with its headquarters located in Brentwood, Tennessee, USA, and it has 24,200 full-time employees. Its former name was Behavioral Healthcare Corporation. Since its development in 2001, it has become a leading healthcare provider operating in six states (Texas, Oklahoma, New Mexico, New Jersey, Idaho, and Kansas). Its network includes 30 hospitals and more than 200 care sites.
Official website:https://ardenthealth.com/
II. Main Business Segments
1. Hospital Services: Operates 30 acute care hospitals, providing comprehensive medical services that cover the diagnosis, treatment, and care of various diseases, meeting the needs of different patients.
2. Multi-site Care Services: Through more than 200 care sites, including outpatient facilities, etc., it provides convenient medical services for patients, such as routine check-ups, treatment of minor illnesses, rehabilitation care, etc., forming a complete medical service network.
3. Cooperative Operation Services: Operates independently or through joint venture models, collaborating with top academic medical centers, large non-profit hospital systems, community doctors, and community foundations to integrate resources from all parties and improve the quality and influence of medical services.
III. Technological and Business Advantages
1. Scale and Market Position: As the fourth-largest private for-profit hospital operator in the United States, it holds a leading position in most markets. With its large network of hospitals and care sites, it has a high market share and brand influence.
2. Cooperative Model Advantages: Its diversified cooperation models enable it to collaborate with various high-quality medical resources, introducing advanced technologies, management experience, and talents, and enhancing its own medical service level and competitiveness.
3. Consumer-centric: Adopting a consumer-centric operation method, focusing on patients' experiences and needs, which helps to improve patient satisfaction and loyalty.
IV. Development History
| Time | Key Events |
|---|---|
| 1993 | Founded by Edward Stack as Behavioral Healthcare Corporation, focusing on the operation of behavioral health care institutions |
| 2001 | The private equity firm Welsh, Carson, Anderson & Stowe became the major shareholder and the company name was changed |
| 2003 | Acquired the Lovelace Health System in Albuquerque, New Mexico |
| 2004 | Acquired the Hillcrest HealthCare System in Tulsa, Oklahoma |
| 2005 | Sold its behavioral health business to Psychiatric Solutions, Inc. |
| 2011 | Acquired the Heart Hospital of New Mexico at Lovelace Medical Center in Albuquerque, New Mexico, the Hillcrest Hospital South in Tulsa, Oklahoma, and the Hillcrest Hospital Claremore in Claremore, Oklahoma |
| 2012 | Acquired the Lovelace Regional Hospital Roswell in Roswell, New Mexico |
| January 2013 | Completed a joint venture acquisition of the BSA Health System with Baptist Community Services in Amarillo, Texas |
| 2014 | Acquired the Tulsa Spine & Specialty Hospital in Oklahoma |
| 2015 | Ventas, Inc. acquired the company's real estate interests for $1.75 billion, and a joint venture composed of Equity Group Investments, Ventas, and several management members acquired the hospital business |
| 2017 | Acquired St. Francis Health in Topeka, Kansas and renamed it; acquired LHP Hospital Group, Inc., adding five jointly-operated hospitals |
| February 2018 | Acquired the East Texas Medical Center hospital system, created "Tyler Regional Hospital, LLC", purchased the naming rights, and created the operating name "UT Health Tyler" |
| February 2020 | President and CEO David T. Vandewater announced his retirement plan |
| August 2020 | Appointed Martin J. Bonick as President and CEO |
| September 2022 | Received an exclusive $500 million secondary market investment from Pure Health |
| June 21, 2024 | Submitted an IPO application to the SEC, planning to list on the New York Stock Exchange with the stock symbol ARDT |
| July 8, 2024 | Announced the IPO terms, planning to issue 14.3 million shares at a price range of $20 - $22 to raise $300 million |
| July 18, 2024 | Issued 12 million shares at $16 per share in an IPO, raising $192 million. The offering price was lower than the proposed range and the number of issued shares was reduced |
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