October 03, 2017
KANSAS CITY, Kan. and NASHVILLE, Tenn. — The University of Kansas Health System and Ardent Health Services ("Ardent") have signed an asset purchase agreement to acquire St. Francis Health. The hospital will be renamed The University of Kansas Health System St. Francis Campus upon the closing of the sale, which is expected by November 1.
The agreement finalizes the terms and conditions of the sale and represents a significant milestone in the partnership's bid to acquire the health system. The two organizations announced their plans to form a joint venture partnership to purchase St. Francis Health in May.
"We have completed an important step toward a new beginning for the associates, physicians, patients and community members who depend on St. Francis," said Bob Page, president and chief executive officer of The University of Kansas Health System. "We are pleased to move forward with a new name that celebrates the promise of our partnership while honoring the hospital's rich legacy."
The next and final step in the sale process is obtaining regulatory approval from the Kansas Attorney General and various state regulatory agencies. Once approved, the parties can finalize the close of the sale.
"The finish line is now in clear sight and we look forward to becoming a part of the Topeka community in the near future," said David T. Vandewater, president and chief executive officer of Ardent, which will manage day-to-day operations of the health system under the joint venture agreement.