In a major healthcare acquisition, Rural Healthcare Group (RHG), backed by private equity firm Kinderhook Industries, has acquired Stewardship Health, the physician network previously operated by Steward Health Care, for $245 million.
This deal, approved by Judge Christopher Lopez of the U.S. Bankruptcy Courts for the Southern District of Texas, strengthens RHG’s footprint in healthcare, particularly in rural and underserved communities. link
Kinderhook Industries has announced that the newly consolidated entity will rebrand as Revere Medical. The new name underscores the company’s dedication to providing patient-centered care and supporting healthcare providers within the Stewardship network.
Headquartered in Nashville, Tennessee, RHG currently operates 17 clinics across two states, a number expected to grow following the integration of Stewardship’s expansive network of 5,000 employed and affiliated providers across nine states. Stewardship Health’s model focuses on value-based care, addressing the needs of both Medicaid and commercial populations, and manages approximately 400,000 lives. The acquisition is set to bolster the organization’s service delivery by providing resources and infrastructure that support high-quality, accessible healthcare for local communities.
Investment in Infrastructure
Revere Medical plans to continue investments in Stewardship’s existing clinics and expand its technology and staffing capabilities. This approach ensures that patients can access their current providers, specialists, and facilities without disruption.
Benson Sloan, CEO of Revere Medical, expressed optimism about the merger, stating, “This is an exciting time for both Stewardship and RHG, now known as Revere Medical. Combining the organizations will allow us to accelerate the impact of our operating model across more providers, patients, and communities. Our mission to improve lives in underserved areas through high-quality care remains unchanged.”
This acquisition follows Steward Health System’s definitive agreement to sell Stewardship Health, one of the nation’s largest primary care provider organizations, for $245 million as documented in court filings.
