IASIS Healthcare completes acquisition of Brim

IASIS Healthcare ("IASIS") today announced the completion of its acquisition of Brim Holdings, Inc. ("Brim").

“We are very excited about the completion of this transaction and expect a smooth transition”

IASIS announced on September 10, 2010, the signing of a definitive agreement to acquire Brim Holdings, Inc., which includes the hospital operations of Wadley Regional Medical Center, a full-service acute care hospital with 370 licensed beds in Texarkana, Texas, and Pikes Peak Regional Hospital, a 15-bed critical access hospital in Woodland Park, Colorado.

The cash-for-stock transaction is valued at $95 million, subject to final working net capital and other purchase price adjustments. Brim Holdings was a portfolio company of Altaris Capital Partners.

"We are very excited about the completion of this transaction and expect a smooth transition," said IASIS Healthcare President Carl Whitmer. "The dedication and hard work of the leadership teams and clinical staffs at Wadley Regional Medical Center and Pikes Peak Regional Hospital have created great momentum at both of these facilities, and we look forward to working together to continue enhancing, for many years to come, the high quality care being delivered to the Texarkana and Woodland Park communities."