FORT WAYNE, Ind. (WOWO) — Parkview Health has reached an agreement to acquire Ovation Healthcare, a national provider of shared services for hospitals, health systems and physician practices. The agreement, announced Oct. 16, is intended to expand support for rural health care providers by giving them access to services designed to improve financial and operational performance. Parkview, based in Fort Wayne, said the investment will build on its existing efforts to help independent health care providers manage administrative costs and keep care available in their communities. “Rural healthcare is in crisis across the country because of a lack of resources and models that allow providers to succeed,” Parkview Health CEO Rick Henvey said in the announcement. He said the partnership is intended to help rural providers reduce costs and focus resources on patient care. Parkview began expanding its operational services to support independent health care providers in 2025. The company said its investment in Ovation will allow it to extend those capabilities through a national shared-services platform. Ovation works with more than 500 health care organizations across 48 states. Its services include revenue cycle management, technology services, spending management and leadership consulting. Following the acquisition, the companies plan to combine their complementary operations and continue under the Ovation Healthcare brand. Ovation will remain a separate health care services organization with its own governing board. The transaction is expected to close in the coming weeks, pending regulatory review and other approvals. The acquisition is part of Parkview’s broader effort to reduce health care costs. The health system said it has reduced commercial reimbursement rates by more than $1.1 billion for northern Indiana and northwest Ohio over the past five years. It also committed to additional rate reductions in 2025 that extend through 2029. Parkview Health is a nonprofit health system serving Indiana and northwest Ohio. It operates 16 hospitals and employs more than 20,000 people, according to the organization. The post Parkview Health to acquire Ovation Healthcare in deal focused on rural hospitals appeared first on WOWO News/Talk 92.3 FM and 1190 AM. ...read more read less