DALLAS , Sept. 29 /PRNewswire/ -- Signature Hospital Corporation announced today the filing of its Certificate of Need Application for the acquisition of St. Joseph's Hospital of Parkersburg, West Virginia, from LifePoint Hospitals, Inc. (Nasdaq: LPNT). LifePoint and Signature executed a definitive agreement for the acquisition on September 24th .

Parkersburg is located in the northwest portion of West Virginia between Charleston and Columbus, Ohio. St. Joseph's Hospital is licensed for 325 beds and provides a full range of medical services to the area, including centers of excellence in neurosurgery, cardiac services, and orthopedic surgery. St. Joseph's will be the fourth hospital acquired by Signature.

'We are extremely pleased with this opportunity,' said Charles R. Miller, president and chief executive officer of Signature. 'St. Joseph's is an outstanding medical center with a wonderful history and a reputation for delivering high quality medical care. We are very impressed with the management team and the medical staff and are delighted to be affiliated with the community of Parkersburg. We believe St. Joseph's has enormous potential. Our job is to make sure that the hospital has the proper resources -- in the form of capital, management support, and systems improvement -- to capture that potential.'

Signature hopes to continue to work with the Sisters of St. Joseph, who founded the hospital more than 100 years ago, to maintain their legacy of compassionate delivery of health care.

The transaction requires approval of the Certificate of Need by the West Virginia Health Care Authority. It is anticipated that the transaction will close as soon as feasible after receipt of the CON approval.

Based in Dallas , Texas, Signature Hospital Corporation is a privately held company founded in 2005. The Company owns and operates three hospitals: the 115-licensed bed Pampa Regional Medical Center, Pampa, Texas; the 161-licensed bed Gulf Coast Medical Center, Wharton, Texas; and the 79-licensed bed Medical Park Hospital, Hope, Arkansas. The Company's board and management team boast more than two centuries of combined experience in health care management and finance. Signature's financial partner is Goldman Sachs, the nation's premier investment banking firm.

SOURCE Signature Hospital Corporation