For the first time since it opened more than a decade ago, Trios Southridge Hospital is now owned by the entity operating it. And it’s a transaction that appears to be a bargain.

LifePoint Health, the national healthcare provider that operates Kennewick’s Trios and Lourdes Health in Pasco, bought the 187,639-square-foot hospital at 3810 Plaza Way in Kennewick’s Southridge area for $7 million on Sept. 29, according to property records.

That’s far below the property’s current appraised value of $75.7 million. The land is appraised at $1.4 million. It’s also less than 10% of what it was valued at in 2017 when the Kennewick Public Hospital District declared bankruptcy and sold Trios’ operations to LifePoint.

The property, previously owned by Kennewick Holdings LLC, is among the highest assessed properties in Benton County, ranking at No. 9 in early 2026.

The property sale comes years before the lease for the 17-acre property with Kennewick Holdings LLC ends. It does not include the attached medical office building, which remains in private ownership outside of LifePoint.

“The transaction changes only the ownership of the property and does not affect day-to-day operations, services, employees, physicians or patients,” said Trios spokeswoman Tina Baumgardner in an email to the Tri-Cities Area Journal of Business. “We remain focused on providing high-quality care, expanding access to services and meeting the healthcare needs of the communities we serve.”

It’s not known what next steps LifePoint Health, which is owned by private equity firm Apollo Global Health, will take with Trios Southridge. Baumgardner said the company isn’t able to speculate on future investments and is not sharing additional details on the property purchase or other financial decisions.

The healthcare provider has invested in local facilities, most recently with a $2.5 million investment that will pay for renovations of Lourdes Health’s surgical sterilization facilities.

But the company also has a track record of leveraging its hospitals’ physical assets, meaning another sale and lease-back could be in the future.

A 2024 report from watchdog Private Equity Stakeholder Project found LifePoint collected $700 million in 2019 after it sold real estate for 10 of its hospitals around the country, with those facilities now having to pay rent.

It cost $63 million to build Trios Southridge, a project the hospital district paid for entirely by having it financed. One of the factors that precipitated the hospital district’s 2017 bankruptcy was paying $800,000 monthly on a 30-year lease for the hospital. It was paying another $390,000 per month for the attached medical office building, called the Trios Care Center at Southridge.