Adventist Health to Acquire Lodi Health
Adventist Health, a multi-state nonprofit system based in Roseville, CA, has signed a letter of intent to acquire Lodi Health, a fully-integrated 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 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 a significant capital commitment, 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.
Juniper was engaged by Adventist Health to serve as its exclusive investment banking advisor as it pursued this strategic acquisition. Juniper assisted Adventist in its financial and strategic assessment of the opportunity, developed Adventist’s bidding strategy, including the proposals and presentations which ultimately resulted in Adventist’s selection by the Lodi Board, and negotiated a letter of intent 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 is comprised of 19 hospitals, more than 230 clinics (including hospital-based, rural health, and physician clinics), 14 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 is comprised of more than 70 hospitals across the country employing nearly 80,000.
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 comprised 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 of the city.
For additional information, please refer to the press release.