Parkview Health has signed an agreement to acquire Ovation Healthcare, a provider of shared services intended to strengthen the operational and financial performance of hospitals, health systems and physician practices nationwide. The purchase price was not disclosed in the sources.
Parkview described itself as the largest rural healthcare provider in Indiana. According to the source, Parkview is bringing its administrative and operational expertise, including in revenue cycle management and information services, to a national rural health platform to help providers keep care close to home.
"With Ovation Healthcare, we are extending Parkview's proven operational depth across the nation to help rural providers remain independent, while continuing to drive down administrative costs for our local patients," said Rick Henvey, CEO of Parkview Health. He said rural healthcare is in crisis nationally because of a lack of resources and models that allow providers to succeed, and that through Ovation, Parkview can help rural providers lower the cost of care with essential infrastructure.
Dr. Dwayne Gunter, CEO of Ovation Healthcare, said Parkview was the clear choice for Ovation's next chapter because it shares Ovation's commitment to strengthening community healthcare and values the financial discipline of the shared services platform. He said that with Parkview's support, Ovation can invest more deeply in its people and capabilities.
The source states that Parkview began expanding its operational capabilities to support independent healthcare providers in 2025. Following closing, the two companies will combine their complementary operations and operate under the Ovation Healthcare brand. Ovation will continue to operate as a separate healthcare services organization with its own governing board, and Parkview Health will become its owner upon closing.
The transaction is anticipated to close in the coming weeks following standard regulatory review processes and approvals.