Essent Healthcare

Established in 1999 and headquartered in Nashville, Tennessee, Essent Healthcare operated as a private owner and manager of acute care hospitals in non-urban communities. The company was founded by W. Hudson Connery Jr., the former COO of HealthTrust Inc., with initial backing from private equity firm Cressey & Company. Vestar Capital Partners later became a significant investor in 2005.

Essent's business model centered on acquiring community hospitals and providing them with the necessary capital and operational expertise to foster growth. The company focused on facilities that were the primary healthcare providers in their respective regions. Its portfolio included hospitals across several states, such as Connecticut, Pennsylvania, Texas, and Massachusetts. Revenue was generated through standard hospital operations, with payments from patients and third-party payors like government programs and commercial insurers.

Over its history, Essent strategically managed its hospital portfolio, including acquisitions and divestitures. In 2005, it acquired Greene County Memorial Hospital in Pennsylvania. By 2011, the company had sold two of its Massachusetts hospitals to Steward Health Care System. A pivotal milestone occurred in November 2011, when Essent Healthcare merged with RegionalCare Hospital Partners, a company backed by Warburg Pincus. This transaction created an expanded hospital system with facilities across six states. The combined entity later merged with LifePoint Health in 2018.

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