SC&H Capital Advises Carroll Hospital Center in its Partnership with LifeBridge Health
The new affiliation agreement will offer new services and expanded care for the people of Carroll County and greater Baltimore region.
SC&H Capital, an investment banking and advisory firm focused on healthcare and other industry verticals, served as the exclusive advisor to Carroll Hospital Center (“CHC”) in executing a definitive affiliation agreement with LifeBridge Health (“LifeBridge”).
With the agreement, LifeBridge has made a commitment to implement Carroll Hospital Center’s strategic plan to grow and advance in areas such as cardiovascular, cancer, hospice/home care, surgery, women and infants and outpatient services. LifeBridge will invest $250 million in capital at Carroll Hospital Center, including facility construction and renovation as well as the development and expansion of medical services. LifeBridge Health will build on Carroll Hospital Center’s commitment to the people of Carroll County, ensuring that residents have access to a vibrant acute care hospital offering a wide range of medical specialties, services and community physicians.
“Our hospital has been a cornerstone of the Carroll County community for more than 50 years,” said Leslie Simmons, president and CEO of Carroll Hospital Center. “When developing our Vision 2020 plan, we firmly concluded a strategic partnership was the best path forward for the next 50 years. LifeBridge Health’s shared vision and willingness to collaborate with us is energizing. I am extremely excited about our agreement and future together.”
LifeBridge will also make a $50 million contribution to the endowment fund of the Carroll Hospital Center Foundation. The income generated from this endowment helps to fund patient care, scholarships, community education, and other community benefit related programs.
“CHC was searching for a community-focused organization that shared our passion for providing quality services locally”, said Leslie Simmons. “SC&H served as our trusted advisor through every step of the process to find such a partner–from evaluating our strategic options including remaining independent, to selecting the right partner, and reaching a final agreement.” Helen Whitehead, Chair of the Board, added, “SC&H led a thorough process that allowed the Board to make critical decisions at key decision points and we are very pleased.”
“Many providers today are facing pressures from changing revenue reimbursement models that place additional pressure specifically on stand-alone hospital systems to cut costs and reduce patient readmissions, while also improving the quality and availability of their services,” said Christopher Helmrath, Managing Director of SC&H Capital. “We were pleased to have had the opportunity to work with Carroll Hospital Center in such a meaningful way, and to assist CHC in finding a strategic partner that would allow them to achieve their strategic vision and continue to serve the community.”
The Carroll Hospital Center affiliation with LifeBridge is SC&H Capital’s fifth hospital transaction in the past three years. Through these engagements, SC&H Capital has developed significant expertise in advising community providers faced with the continuing effects of healthcare reform and the changing healthcare landscape.
About SC&H Capital
SC&H Capital, an affiliate of SC&H Group, is an investment banking and advisory firm providing merger and acquisition (M&A), employee stock ownership plan (ESOP), capital raising, and business valuation solutions to middle market and growth companies nationwide. SC&H Capital delivers investment banking and advisory services across numerous industries including manufacturing, healthcare, technology, and government contracting to help owners achieve their exit planning goals and liquidity objectives.
To learn more visit https://www.schgroup.com/services/investment-banking-advisory.
Securities offered through Stout Causey Capital Corporation, member FINRA/SIPC.