Parkview Health has agreed to buy Ovation Healthcare, adding a national provider-services network to the Indiana nonprofit’s shared-services business as it pursues lower costs and support for rural providers.
Ovation reports a client base of more than 500 health care organizations spread across 48 states. Its customers range from critical-access facilities to large health systems. The Brentwood, Tennessee-based company offers leadership advisory, spend management, revenue-cycle services and technology.
Parkview serves Indiana and northwest Ohio and operates 16 hospitals, according to the acquisition announcement. The nonprofit also says it has more than 20,000 co-workers. The announcement did not specify where each of its hospitals is located.
Under the agreement, Parkview will own Ovation once the deal closes. The combined operation is planned to use the Ovation Healthcare brand, while Ovation remains a distinct health care services organization with its own governing board. The announcement did not disclose a purchase price or financing terms.
Parkview CEO Rick Henvey said rural providers face shortages of resources and operating models that can sustain them. He said the deal is intended to “help rural providers remain independent.” Ovation CEO Dr. Dwayne Gunter said Parkview’s support would enable further investment in Ovation’s people and capabilities.
Parkview says it has lowered commercial reimbursement rates by more than $1.1 billion in northern Indiana and northwest Ohio over the past five years. It also says it committed in 2025 to additional reductions through 2029. The acquisition announcement gave no projected savings for Ovation’s clients.
Regulatory review and approvals remain before the transaction can be completed. The companies expect to finish the deal in the coming weeks, but did not provide a specific closing date.
