Parkview Health has completed its acquisition of Ovation Healthcare, the companies announced on Monday. Financial terms of the sale were not disclosed.
Ovation, headquartered in Brentwood, Tennessee, provides shared services to community hospitals and health systems, including revenue cycle management, information technology, spend management, and management and leadership advisory work. It partners with more than 500 clients across 48 states, ranging from critical access hospitals to large health systems.
Grant Avenue Capital acquired Ovation, formerly known as QHR Health, in May 2021 in a carve-out from Quorum Health Corporation. During that ownership period, Ovation became an independent organization, rebranded, completed five add-on acquisitions, and launched two additional service offerings.
Parkview is a nonprofit health system based in Fort Wayne. It is northern Indiana's largest employer, with more than 20,000 co-workers, 16 hospitals, and a network of primary care and specialty physicians serving Indiana and northwest Ohio.
Ovation's chief executive said the company plans to build on its existing work for hospitals as it begins its next chapter under Parkview.
