Parkview Health announces agreement to acquire Ovation Healthcare to strengthen community healthcare nationwide, advance local affordability

FORT WAYNE, Ind., Oct. 16, 2026 /PRNewswire/ -- 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.

As the largest rural healthcare provider in Indiana, Parkview understands the severe resource constraints facing rural hospitals nationwide. By investing in Ovation Healthcare, Parkview is bringing its administrative and operational expertise, such as in revenue cycle management and information services, to a premier national rural health platform to help providers keep care close to home in the communities that need it most.

"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.

About Parkview Health
Parkview Health is a nonprofit, community-focused health system serving Indiana and northwest Ohio with a mission to improve health and inspire well-being. Based in Fort Wayne, Parkview is northeast Indiana's largest employer with more than 20,000 co-workers.

Parkview Health includes 16 hospitals and an extensive network of primary care and specialty care physicians. The health system is making significant investments to expand access to care, including plans to build a new hospital in West Lafayette, expand services in Grant County, and strengthen partnerships with Riverview Health, Goshen Health and Witham Health Services.

At the same time, Parkview demonstrates leadership in addressing healthcare affordability, renegotiating contracts with major insurers to deliver more than $1.1 billion in hospital rate reductions through 2025 and securing a new long-term agreement with Anthem that extends reduced rates through 2029. In 2025, Parkview introduced Signature Care EPO+, a direct-to-employer health plan that can save employers up to 25% compared to commercial insurance. In the state's first review of employer-direct arrangements, Parkview's rates fell well below required benchmarks – reinforcing the health system's focus on high-quality, lower-cost care.

Parkview consistently earns multiple "A" Hospital Safety Grades from The Leapfrog Group, is ranked among Indiana's Best Hospitals by U.S. News & World Report, recognized by The Chartis Center for Rural Health, and received the Excellence in Patient Experience Award from NRC Health in 2026.

About Ovation Healthcare
Headquartered in Brentwood, Tennessee, Ovation Healthcare partners with more than 500 healthcare organizations across 48 states, from critical access hospitals to large health systems. For nearly 50 years, Ovation has strengthened community healthcare through a portfolio of shared services, including Leadership Advisory, Spend Management, Revenue Cycle Management and Technology Services, designed to provide scale and improve the operational and financial performance of hospitals and health systems. To learn more, visit OvationHC.com.

Advisors
Goldman, Sachs & Co. is serving as financial advisor and K&L Gates is serving as legal advisor to Parkview Health.

SOURCE Ovation Healthcare