Hammond Hanlon Camp LLC Advises PATH Foundation in Selling Minority Interest to LifePoint Health
posted on November 15, 2018
NEW YORK — Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused investment banking firm, served as the exclusive financial advisor to the PATH Foundation (“the Foundation”) in selling its minority interest in Fauquier Health, a 97-bed health system in Warrenton, Va., to LifePoint Health (“LifePoint”).
In 2013, when Fauquier Health ("Fauquier") and LifePoint Health ("LifePoint") formed a joint venture to share ownership and operation of Fauquier, the Foundation retained 20 percent interest in Fauquier. In Spring 2018, the PATH Foundation sought to sell its interest in Fauquier to LifePoint .
LifePoint and the Foundation engaged a valuation consultant to determine the value of the Foundation’s interest in Fauquier. The Foundation then engaged H2C to work with the valuation consultant.
“H2C worked on a number of areas with the valuation consultant to support the valuation, leading to a strong valuation of the joint venture and, accordingly, of the Foundation’s interest,” said Elaine Yao, Managing Director for H2C. Email Elaine.
“Ultimately, H2C’s due diligence and judgment helped optimize the value of our interest in Fauquier,” said Christy Connolly, CEO, PATH Foundation. “We were familiar with H2C through H2C’s work with another hospital during the sale of Fauquier in 2013 and were very impressed. We are pleased to have worked with H2C on this initiative which provided great value for the Foundation and the communities we serve.”
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ABOUT PATH FOUNDATION
The PATH Foundation ("Foundation") was formed to improve health and wellness in Fauquier, Rappahannock, and Northern Culpeper counties in Virginia. The PATH Foundation is committed to honoring the legacy of community philanthropy by being good stewards of the foundation's assets and by using these assets to stimulate community benefit, inspire citizen engagement, and support area resources. Its goal is to enhance the region as a place where everyone has the opportunity to have a healthy place to live, work, play, and grow. For more information, visit www.pathforyou.org.
ABOUT HAMMOND HANLON CAMP LLC
Hammond Hanlon Camp LLC (“H2C”) is an independent strategic advisory and investment banking firm committed to providing superior advice as a trusted advisor to healthcare organizations and related companies throughout the United States. H2C’s professionals have a long track record of success in healthcare mergers and acquisitions, capital markets, real estate, and restructuring transactions, acting as lead advisors on hundreds of transactions representing billions of dollars in value. Hammond Hanlon Camp LLC offers securities through its wholly-owned subsidiary H2C Securities Inc., member FINRA/SIPC. For more information, visit h2c.com.
“Ultimately, H2C’s due diligence and judgment helped optimize the value of our interest in Fauquier. We are pleased to have worked with H2C on this initiative which provided great value for the Foundation and the communities we serve."
- Christy Connolly
CEO of PATH Foundation