Parkview Health has signed an agreement to acquire Ovation Healthcare, a leading provider of shared services that strengthen the operational and financial performance of hospitals, health systems and physician practices nationwide.
"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. "Rural healthcare is in crisis across the country because of a lack of resources and models that allow providers to succeed. Through Ovation, we can help rural providers lower the cost of care with essential infrastructure and allow them to focus their resources on patient care."
Parkview began expanding its operational capabilities to support independent healthcare providers in 2025. Through its investment in Ovation, Parkview can expand its commitment to a national shared services platform that allows hospitals to focus their resources on clinical care while also lowering costs. Following closing, the two companies will combine their complementary operations and operate under the Ovation Healthcare brand.
Parkview's investment in Ovation is another significant step in its multi-year strategy to lower the cost of care for employers and patients by reducing administrative expenses while continuing to focus on leading the state in quality and safety at the bedside. Over the past five years, Parkview has reduced commercial reimbursement rates by more than $1.1 billion for northern Indiana and northwest Ohio and committed to further rate cuts in 2025 that extend through 2029.
"Parkview was the clear choice for Ovation's next chapter because it shares our commitment to strengthening community healthcare and values the financial discipline of the shared services platform that has made Ovation a trusted partner to its clients," said Dr. Dwayne Gunter, CEO of Ovation Healthcare. "With Parkview's support, we can invest more deeply in our people and capabilities while combining our experience to help hospitals and health systems strengthen performance and keep care close to home, particularly in rural communities."
The transaction is anticipated to close in the coming weeks following standard regulatory review processes and approvals. Upon closing, Parkview Health will become the owner of Ovation Healthcare. Ovation will continue to operate as a separate healthcare services organization with its own governing board.
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