Fort Wayne, Ind.-based Parkview Health has signed an agreement to acquire Brentwood, Tenn.-based Ovation Healthcare, a shared services company that works with more than 500 healthcare organizations across 48 states, according to an Oct. 16 news release shared with Becker’s.
Ovation offers leadership advisory, spend management, revenue cycle management and technology services to hospitals, health systems and physician practices ranging from large health systems to critical access facilities. Parkview said the deal will help rural providers stay independent and keep care closer to home.
Under the acquisition, Parkview will bring its own administrative and operational expertise, which includes revenue cycle and information services, to the platform. The two companies will combine their operations and run under the Ovation Healthcare brand after closing. Parkview will become Ovation’s owner, but Ovation will operate as a separate healthcare services organization with its own governing board.
“Rural healthcare is in crisis across the country because of a lack of resources and models that allow providers to succeed,” Rick Henvey, CEO of Parkview Health, said in the release. “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.”
In 2025, Parkview began an effort to provide operational support to independent providers. Over the last five years, the system has cut commercial reimbursement rates by more than $1.1 billion in northern Indiana and northwest Ohio, and it has committed to further rate cuts that extend through 2029.
The transaction is expected to close in the coming weeks, following regulatory review.
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