BRENTWOOD, Tenn. & DENVER--(BUSINESS WIRE)--LifePoint Health and Specialist TeleMed (STeM) have announced that an affiliate of LifePoint Health will lead an investment in STeM. STeM, a leading multi-specialty telemedicine provider for hospitals, clinics and remote locations worldwide, will continue to serve its existing client base of healthcare organizations and further expand its footprint, including within the LifePoint network.
The transaction is part of LifePoint’s enterprise strategy for driving innovation called “LifePoint Forward.” Through the LifePoint Forward strategy, the company is pursuing opportunities to partner, build or buy technology and solutions that support its objectives of improving quality, access and patient outcomes and experience for those it serves.
“LifePoint Health is committed to leveraging technology and innovative solutions to address the specific health needs of our communities, eliminate barriers and deliver on our promise to provide quality care for patients close to home,” said David Dill, chairman and chief executive officer (CEO) of LifePoint Health. “We recognize how important it is to align with strong organizations, such as STeM, that can help us achieve this shared objective faster and more effectively. Aligning with STeM is yet another demonstration of how we are Making Communities Healthier and building a model for community-based healthcare delivery through diversified services that aim to best serve patients, clinicians and providers across the healthcare continuum.”
Based in Denver, Colorado, STeM is a physician-led company offering more than 24 inpatient and outpatient specialties for virtual care consultations. STeM currently partners with healthcare provider organizations nationwide to provide telemedicine solutions 24 hours a day, seven days a week, 365 days a year.
“We are excited to align with LifePoint Health, a strong health system that will help us continue to build upon our recent growth in partnerships and enhance our capabilities to deliver high quality, integrated and patient-centered care to healthcare organizations across the country,” said Alexander Mason, MD, FAANS, CEO of STeM. “With LifePoint’s support, we will have new opportunities to accelerate our growth and further strengthen our robust pipeline of clients. We share LifePoint’s commitment to putting patients first and taking an innovative approach to transforming the delivery of care, and we look forward to advancing this work together.”
Led by Dr. Mason, a practicing neurosurgeon, STeM’s existing leadership team will continue to lead the organization forward following the close of the transaction, which is anticipated to occur in the coming months.
About LifePoint Health
LifePoint Health is a leading healthcare provider that serves patients, clinicians, communities and partner organizations across the healthcare continuum. Driven by a mission of Making Communities Healthier, the company has a growing diversified healthcare delivery network comprised of more than 50,000 dedicated employees, 65 community hospital campuses, more than 30 rehabilitation and behavioral health hospitals and 170 additional sites of care, including managed acute rehabilitation units, outpatient centers and post-acute care facilities. Through its innovation strategy, LifePoint Forward, the company is developing meaningful solutions to enhance quality, increase access to care, and improve value across the LifePoint footprint and communities across the country. For more information, visit www.lifepointhealth.net.
About Specialist TeleMed (STeM)
Specialist TeleMed’s vision is to provide access to the highest-quality, value-based healthcare for patients within their communities. For more information, visit specialisttelemed.com.