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Serendipity helped launch Louisville hospital company

The Courier-Journal, November 8, 2010

Luck played a part in the formation of Springstone, a new Louisville hospital company, and its landing of a $100 million commitment to develop the business, its chief executive says.

Springstone, which now operates one psychiatric hospital, announced Tuesday that Welsh, Carson, Anderson & Stowe, a leading health-care equity investor, has become its majority owner and pledged the $100 million.

W. Earl Reed III, Springstone’s CEO, said the company got its start when Patrick Hammer, an entrepreneur he knew, sought his consulting help to develop a hospital outside Evansville, Ind.

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