Adventist Health Grows with Acquisition of Lodi Health
Adventist Health, a multi-state nonprofit health system based in Roseville, CA, has acquired Lodi Health, a fully-integrated community health system based in Lodi, CA. Adventist was chosen unanimously by the Lodi Board of Directors after a competitive process which included other major regional nonprofit systems. Adventist was selected due to its unique blend of culture and competitive attributes, as well as its demonstrated commitment to communities like Lodi along the Pacific coast. As part of the transaction, Adventist has agreed to at least $98 million in significant capital improvements, the deployment of a state-of-the-art IT system, the continuation of existing clinical services, and the creation of a local advisory board to ensure local input in key decisions for the health system. Adventist will also donate $2 million to the Lodi Memorial Hospital Foundation.
Juniper served as Adventist Health’s exclusive investment banking advisor as it pursued this strategic acquisition of Lodi. Juniper assisted Adventist in its financial and strategic assessment of the opportunity, developed Adventist’s proposal strategy, including the proposals and presentations which ultimately resulted in Adventist’s selection by the Lodi Board, and worked with Adventist management and legal advisors to negotiate the letter of intent and definitive agreement on Adventist’s behalf.
Adventist is a faith-based, nonprofit integrated healthcare system based in Roseville, CA which provides care to communities throughout California, Hawaii, Oregon, and Washington. The system comprises 20 hospitals, more than 275 clinics (including hospital-based, rural health, and physician clinics), 15 home care agencies, seven hospice agencies, and four joint venture retirement centers. The system is part of the wider Seventh-day Adventist Healthcare Network, which includes more than 79 hospitals across the country employing nearly 120,000.
Lodi Health is a nonprofit health system based in Lodi, CA. Lodi is located south of Sacramento in California’s Central Valley, a rapidly growing region known for its wine production. The system is composed of 191-bed Lodi Memorial Hospital, 15 medical practices, several outpatient services and centers, an adult day care center, and a child care center. Lodi Health is the second largest employer in the city.
For additional information, please refer to the press release.