ScionHealth to launch $450M loan for asset acquisition from LifePoint, Kindred

Lead arranger Barclays has set a lender call for 1 p.m. ET on Dec. 2 to launch a $450 million first-lien term loan for ScionHealth, according to sources.

Price talk for the seven-year term loan has not yet been announced, but lenders will be offered six months of 101 soft call protection.

Proceeds from the deal will be used to finance the company's acquisition of Kindred Healthcare LLC's long-term acute care business and 18 short-term acute care hospitals from LifePoint Health Inc. The borrower is Knight Health Holdings LLC.

ScionHealth is a new healthcare services platform that is being formed through the acquisition of these assets following LifePoint's agreement to acquire Kindred in a deal that was announced in June.