Exhibit 99.1

Brentwood, Tenn. (November 6, 2024) – Ardent Health Partners, Inc. (NYSE: ARDT) (“Ardent Health” or the “Company”),

a leading provider of healthcare in growing mid-sized urban communities across the U.S., today announced results for the

third quarter ended September 30, 2024.

Third Quarter 2024 Operating and Financial Summary

All comparisons are versus the same prior year period, unless otherwise noted. See the footnotes to the Operating

Statistics table of this press release for definitions of the metrics below and a full list of key operating metrics.

(1)  Adjusted EBITDA and Adjusted EBITDAR are non-GAAP financial measures.  See "Supplemental Non-GAAP Financial Information" for

reconciliations of non-GAAP measures to their most comparable GAAP financial measures.

Financial Performance Summary

Total revenue for the third quarter of 2024 grew 5.2% year-over-year to $1.45 billion. This primarily reflects a 3.8% year-

over-year increase in adjusted admissions and 0.9% year-over-year growth in net patient service revenue per adjusted

admission. 

The third quarter of 2023 benefited from the recognition of approximately $25 million of discrete non-recurring revenue

associated with Medicaid supplemental programs, primarily attributable to a one-time allocation to Oklahoma hospitals

participating in the Supplemental Hospital Offset Payment Program ("SHOPP"). Additionally, in May 2024, the Company

made a strategic decision to transfer certain oncology and infusion services to a health system partner. This transition

resulted in a revenue reduction of more than $10 million in the third quarter of 2024 compared to the same prior year

period, with no material change to adjusted EBITDA.  Excluding these items, total revenue growth for the third quarter of

2024 would have been approximately 8%.

For the third quarter of 2024, net income attributable to Ardent Health was $26 million, or $0.19 per basic and diluted

share, compared to $21 million, or $0.17 per basic and diluted share, in the third quarter of 2023. 

Adjusted EBITDA for the third quarter of 2024 increased 15.3% year-over-year to $98 million, which represented margin

expansion of 50bps to 6.7%. The adjusted EBITDA growth was primarily driven by higher patient volumes, increased

reimbursement rates, strategic service line optimization, and cost reduction initiatives.

Operating Performance Summary

The following table provides a summary of certain key operating metrics for the third quarter of 2024 compared to the

same prior year period. See the footnotes to the Operating Statistics table of this press release for definitions of the

metrics below and a full list of key operating metrics.

•Admissions for the third quarter of 2024 increased 6.4% year-over-year, modestly faster than the comparable 5.3%

growth in the first half of 2024. The increase was primarily attributable to growth in general medicine, including

strong growth in pulmonology and gastroenterology cases, as well as the ongoing impact of the two-midnight rule.

•Surgeries for the third quarter of 2024 increased 0.3% year-over-year, an improvement from a comparable decline of

1.9% during the first half of 2024. The year-over-year growth in total surgeries of 0.3% reflected increases of 0.5%

and 0.2% in inpatient and outpatient surgeries, respectively. As expected, the Company’s strategic service line

optimization efforts continued to be a volume headwind for lower margin services, including otolaryngology;

however, growth in higher acuity lines, including orthopedics, contributed to a more favorable case mix.

•Net patient service revenue per adjusted admission for the third quarter of 2024 increased 0.9% year-over-year. The

growth rate would have been over 3.0%, excluding the aforementioned $25 million in discrete non-recurring revenue

associated with Medicaid supplemental programs recognized during the third quarter of 2023 and the $10 million

year-over-year decrease in revenue related to the oncology and infusion service transfer.

Balance Sheet, Cash Flow & Liquidity Update

As previously announced, during the third quarter, the Company amended its term loan credit agreement with lenders to

reprice its term loans. The repricing is expected to generate approximately $5 million in annual interest expense savings

and will provide incremental flexibility to pursue capital allocation priorities.

As of September 30, 2024, the Company had total cash and cash equivalents of $563 million and total debt of $1.1 billion.

The Company’s net leverage ratio as of September 30, 2024 was 1.6x, as calculated under the Company's credit

agreements, and its lease-adjusted net leverage ratio1 was 3.5x. Ardent Health expects its lease-adjusted net leverage

ratio will approach a target of 3.0x by the end of 2024, as the impact of the cybersecurity incident in the fourth quarter

rolls off. At the end of the third quarter, the Company’s available liquidity was $851 million.

During the third quarter of 2024, net cash provided by operating activities was $90 million, compared to $89 million in

the same prior year period.

Other Matters

The Company acknowledges the devastation left by Hurricane Helene and Hurricane Milton across the southeastern U.S.

Ardent Health's facilities were not in the hurricanes' paths and, therefore, were not impacted by the storms.  Additionally,

the Company's supply chain, including its sourcing of IV fluids, has not been impacted to date.

Financial Guidance

The Company is updating its financial guidance for the full year 2024, increasing revenue and adjusted EBITDA to reflect

third quarter results and continued confidence in its business execution. The Company is lowering net income guidance

due to a delay in the expected timing of collecting business insurance proceeds related to the cybersecurity incident,

partially offset by higher adjusted EBITDA. The Company's expectation for its business insurance claim remains

unchanged, with additional proceeds expected to be collected in 2025.  All guidance is current as of the time provided

and is subject to change.

The Company’s forecasted guidance is based on current plans and expectations and is subject to a number of known and

unknown uncertainties and risks, including those set forth below under the heading “Forward-Looking Statements.” The

Company does not forecast the impact of items such as, but not limited to, losses (gains) on sales of facilities, losses on

retirement of debt, legal claim costs (benefits) and impairments of long-lived assets because the Company does not

believe that it can forecast these items with sufficient accuracy. This is due to the inherent difficulty of forecasting the

timing or amount of various items that have not yet occurred and are out of the Company’s control or cannot be

reasonably predicted.

Third Quarter 2024 Results Conference Call

The Company will host a conference call to discuss its third quarter financial results on November 7, 2024, at 9:00 a.m.

Eastern Time. A webcast of the conference call will be available in the Investor Relations section of the Company’s

corporate website at https://ir.ardenthealth.com. To listen to a live broadcast, go to the site at least 15 minutes prior to

the scheduled start time in order to register, download, and install any necessary audio software.

To participate in the live teleconference:

United States Live:    1-888-596-4144

International Live:    1-646-968-2525

To listen to a replay of the teleconference, which will be available through November 14, 2024:

United States Replay:  1-800-770-2030

International Replay:  1-609-800-9909

About Ardent Health

Ardent Health (NYSE: ARDT) is a leading provider of healthcare in growing mid-sized urban communities across the U.S.

With a focus on people and investments in innovative services and technologies, Ardent Health is passionate about

making healthcare better and easier to access. Through its subsidiaries, Ardent Health delivers care through a system of

30 acute care hospitals and more than 200 sites of care with over 1,800 affiliated providers across six states. For more

information, please visit www.ardenthealth.com.

Supplemental Non-GAAP Financial Information

We have included certain financial measures in this press release that have not been prepared in a manner that complies

with U.S. generally accepted accounting principles ("GAAP"), including Adjusted EBITDA and Adjusted EBITDAR. We define

these terms as follows:

•Adjusted EBITDA. Adjusted EBITDA is defined as net income plus (i) provision for income taxes, (ii) interest expense

and (iii) depreciation and amortization expense (or EBITDA), as adjusted to deduct noncontrolling interest earnings,

and excludes the effects of losses on the extinguishment and modification of debt; other non-operating losses

(gains); Cybersecurity Incident recoveries, net of incremental information technology and litigation costs;

restructuring, exit and acquisition-related costs; expenses incurred in connection with the implementation of Epic

Systems ("Epic"), our integrated health information technology system; equity-based compensation expense; and

loss (income) from disposed operations.

Adjusted EBITDA is a non-GAAP performance measure used by our management and external users of our financial

statements, such as investors, analysts, lenders, rating agencies and other interested parties, to evaluate companies

in our industry. Adjusted EBITDA is a performance measure that is not defined under GAAP and is presented in this

press release because our management considers it an important analytical indicator that is commonly used within

the healthcare industry to evaluate financial performance and allocate resources. Further, our management believes

that Adjusted EBITDA is a useful financial metric to assess our operating performance from period to period by

excluding certain material non-cash items and unusual or non-recurring items that we do not expect to continue in

the future and certain other adjustments we believe are not reflective of our ongoing operations and our

performance.

Because not all companies use identical calculations, our presentation of Adjusted EBITDA may not be comparable to

other similarly titled measures of other companies.  While we believe this is a useful supplemental performance

measure for investors and other users of our financial information, you should not consider Adjusted EBITDA in

isolation or as a substitute for net income or any other items calculated in accordance with GAAP. Adjusted EBITDA

has inherent material limitations as a performance measure, because it adds back certain expenses to net income,

resulting in those expenses not being taken into account in the performance measure. We have borrowed money, so

interest expense is a necessary element of our costs. Because we have material capital and intangible assets,

depreciation and amortization expense are necessary elements of our costs. Likewise, the payment of taxes is a

necessary element of our operations. Because Adjusted EBITDA excludes these and other items, it has material

limitations as a measure of our performance.

•Adjusted EBITDAR. Adjusted EBITDAR is defined as Adjusted EBITDA further adjusted to add back rent expense

payable to REITs, which consists of rent expense pursuant to the master lease agreement (the "Ventas Master

Lease") with Ventas, Inc. ("Ventas"), lease agreements associated with the MOB Transactions (defined below) and a

lease arrangement with Medical Properties Trust, Inc. ("MPT") for the Hackensack Meridian Mountainside Medical

Center.

Adjusted EBITDAR is a commonly used non-GAAP valuation measure used by our management, research analysts,

investors and other interested parties to evaluate and compare the enterprise value of different companies in our

industry. Adjusted EBITDAR excludes: (1) certain material noncash items and unusual or non-recurring items that we

do not expect to continue in the future; (2) certain other adjustments that do not impact our enterprise value; and

(3) rent expense payable to our REITs. We operate 30 acute care hospitals, 12 of which we lease from two REITs,

Ventas and MPT, pursuant to long-term lease agreements. Additionally, during 2022, we completed the sale of 18

medical office buildings to Ventas in exchange for $204.0 million and concurrently entered into agreements to lease

the real estate back from Ventas over a 12-year initial term with eight options to renew for additional five-year terms

(the "MOB Transactions"). Our management views the long-term lease agreements with Ventas and MPT, as well as

the MOB Transactions, as more like financing arrangements than true operating leases, with the rent payable to such

REITs being similar to interest expense. As a result, our capital structure is different than many of our competitors,

especially those whose real estate portfolio is predominately owned and not leased. Excluding the rent payable to

such REITs allows investors to compare our enterprise value to those of other healthcare companies without regard

to differences in capital structures, leasing arrangements and geographic markets, which can vary significantly among

companies. Our management also uses Adjusted EBITDAR as one measure in determining the value of prospective

acquisitions or divestitures. Finally, financial covenants in certain of our lease agreements, including the Ventas

Master Lease, use Adjusted EBITDAR as a measure of compliance. Adjusted EBITDAR does not reflect our cash

requirements for leasing commitments. As such, our presentation of Adjusted EBITDAR should not be construed as a

performance or liquidity measure.

Because not all companies use identical calculations, our presentation of Adjusted EBITDAR may not be comparable

to other similarly titled measures of other companies. While we believe this is a useful supplemental valuation

measure for investors and other users of our financial information, you should not consider Adjusted EBITDAR in

isolation or as a substitute for net income or any other items calculated in accordance with GAAP. Adjusted EBITDAR

has inherent material limitations as a valuation measure, because it adds back certain expenses to net income,

resulting in those expenses not being taken into account in the valuation measure. The payment of taxes and rent is

a necessary element of our valuation. Because Adjusted EBITDAR excludes these and other items, it has material

limitations as a measure of our valuation.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform

Act of 1995 and are based on current expectations and assumptions that are subject to risks and uncertainties. Forward-

looking statements include all statements that are not historical facts. The words "anticipate," "assume," "believe,"

"continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future," "will,"

"seek," "foreseeable," the negative version of these words, or similar terms and phrases are intended to identify forward-

looking statements. These forward-looking statements include, but are not limited to, statements regarding anticipated

financial performance and financial position, including our financial outlook for the full year 2024 and other statements

that are not historical facts. These forward-looking statements are neither promises nor guarantees, but involve risks and

uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements.

Our actual results could differ materially from those anticipated in these forward-looking statements for many reasons,

including, but not limited to, the following: (1) changes in government healthcare programs, including Medicare and

Medicaid and supplemental payment programs and state directed payment arrangements; (2) reduction in the

reimbursement rates paid by commercial payors, our inability to retain and negotiate favorable contracts with private

third-party payors, or an increasing volume of uninsured or underinsured patients; (3) the highly competitive nature of

the healthcare industry; (4) inability to recruit and retain quality physicians, as well as increasing cost to contract with

hospital-based physicians; (5) increased labor costs resulting from increased competition for staffing or a continued or

increased shortage of experienced nurses; (6) changes to physician utilization practices and treatment methodologies and

third party-payor controls designed to reduce inpatient services or surgical procedures that impact demand for medical

services; (7) continued industry trends toward value-based purchasing, third party payor consolidated and care

coordination among healthcare providers; (8) loss of key personnel, including key members of our senior management

team; (9) our failure to comply with complex laws and regulations applicable to the healthcare industry or to adjust our

operations in response to changing laws and regulations; (10) inability to successfully complete acquisitions or strategic

joint ventures (“JVs”) or inability to realize all of the anticipated benefits, including anticipated synergies, of past

acquisitions and the risk that transactions may not receive necessary government clearances; (11) failure to maintain

existing relationships with JV partners or enter into relationships with additional healthcare system partners; (12) the

impact of known and unknown claims brought against our hospitals, physician practices, outpatient facilities or other

business operations or against healthcare providers that provide services at our facilities; (13) the impact of government

investigations, claims, audits, whistleblower and other litigation; (14) the impact of any security incidents affecting us or

any third-party vendor upon which we rely; (15) inability or delay in our efforts to construct, acquire, sell, renovate or

expand our healthcare facilities; (16) our failure to comply with federal and state laws relating to Medicare and Medicaid

enrollment, permit, licensing and accreditation requirements, or the expansion of existing or the enactment of new laws

or regulation relating to permit, licensing and accreditation requirements; (17) failure to obtain drugs and medical

supplies at favorable prices or sufficient volumes; (18) operational, legal and financial risks associated with outsourcing

functions to third parties; (19) sensitivity to regulatory, economic and competitive conditions in the states in which our

operations are heavily concentrated; (20) decreased demand for our services provided due to factors beyond our control,

such as seasonal fluctuations in the severity of critical illnesses, pandemic, epidemic or widespread health crisis; (21)

inability to accurately estimate market opportunity and forecasts of market growth; (22) general economic and business

conditions, both nationally and in the regions in which we operate; (23) the impact of seasonal or severe weather

conditions and climate change; (24) inability to demonstrate meaningful use of Electronic Health Record technology; (25)

inability to continually enhance our hospitals with the most recent technological advances in diagnostic and surgical

equipment; (26) effects of current and future health reform initiatives, including the Affordable Care Act, and the

potential for changes to the Affordable Care Act, its implementation or its interpretation (including through executive

orders and court challenges); (27) legal and regulatory restrictions on certain of our hospitals that have physician owners;

(28) risks related to the Ventas Master Lease and its restrictions and limitations on our business; (29) the impact of our

significant indebtedness, including our ability to comply with certain debt covenants and other significant operating and

financial restrictions imposed on us by the agreements governing our indebtedness, and the effects that variable interest

rates, and general economic factors could have on our operations, including our potential inability to service our

indebtedness; (30) conflicts of interest with certain of our existing large stockholders; (31) effects of changes in federal

tax laws; (32) increased costs as a result of operating as a public company; (33) risks related to maintaining an effective

system of internal controls; (34) volatility of our share price and size of the public market for our common stock; (35) our

guidance differing from actual operating and financial performance; (36) the results of our efforts to use technology,

including artificial intelligence, to drive efficiencies and quality initiatives and enhance patient experience; (37) the impact

of recent decisions of the U.S. Supreme Court regarding the actions of federal agencies; and (38) other risk factors

described in our filings with the Securities and Exchange Commission.

Many of the important factors that will determine these results are beyond our ability to control or predict. You are

cautioned not to put undue reliance on any forward-looking statements, which speak only as of the date of this press

release. Except as otherwise required by law, we do not assume any obligation to publicly update or release any revisions

to these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect

the occurrence of unanticipated events. All references to “Company,” “Ardent Health,” “we,” “our” and “us” as used

throughout this release refer to Ardent Health Partners, Inc. and its affiliates, unless stated otherwise or indicated by

context.

Media Relations:

Rebecca Kirkham

rebecca.kirkham@ardenthealth.com

Investor Relations:

Dave Styblo

Investor.Relations@ardenthealth.com

(615) 296-3016

Condensed Consolidated Statements of Cash Flows

Condensed Consolidated Balance Sheets

(1)As of September 30, 2024 and December 31, 2023, the unaudited condensed consolidated balance sheet included total liabilities of consolidated

variable interest entities of $303.2 million and $337.8 million, respectively. Refer to Note 2 of the Company's unaudited condensed consolidated

financial statements included in its Quarterly Report on Form 10-Q for further discussion.

Operating Statistics

(Unaudited)

(1)Hospitals operated (at period end). This metric represents the total number of hospitals operated by us at the end of the applicable period, irrespective of

whether the hospital real estate is (i) owned by us, (ii) leased by us or (iii) held through a controlling interest in a JV. This metric includes the managed

clinical operations of the hospital at UT Health North Campus in Tyler, Texas ("UT Health North Campus Tyler"), a hospital owned by The University of

Texas Health Science Center at Tyler ("UTHSCT"), an affiliate of The University of Texas System. Since we only manage the clinical operations of UT Health

North Campus Tyler, the financial results of such entity are not consolidated under Ardent Health Partners, Inc.

On April 30, 2024, we closed UT Health East Texas Specialty Hospital, a long-term acute care hospital (the “LTAC Hospital”) in Tyler, Texas. The LTAC

Hospital's inventory and fixed assets were transferred or repurposed to be used by our other hospitals. The LTAC Hospital had 36 licensed patient beds and

accounted for approximately $0.0 million and $2.2 million of total revenue and a pre-tax loss of $0.2 million and $0.5 million for the three months ended

September 30, 2024 and 2023, respectively, and approximately $2.4 million and $8.0 million of total revenue and a pre-tax loss of $0.8 million and $0.5

million for the nine months ended September 30, 2024 and 2023, respectively.

(2)Licensed beds (at period end). This metric represents the total number of beds for which the appropriate state agency licenses a facility, regardless of

whether the beds are actually available for patient use.

(3)Utilization of licensed beds. This metric represents a measure of the actual utilization of our inpatient facilities, computed by (i) dividing patient days by

the number of days in each period, and (ii) further dividing that number by average licensed beds, which is calculated by dividing total licensed beds (at

period end) by the number of days in the period, multiplied by the number of days in the period the licensed beds were in existence.

(4)Admissions. This metric represents the number of patients admitted for inpatient treatment during the applicable period.

(5)Adjusted admissions. This metric is used by management as a general measure of combined inpatient and outpatient volume. Adjusted admissions

provides management with a key performance indicator that considers both inpatient and outpatient volumes by applying an inpatient volume measure

(admissions) to a ratio of gross inpatient and outpatient revenue to gross inpatient revenue. Gross inpatient and outpatient revenue reflect gross inpatient

and outpatient charges prior to estimated contractual adjustments, uninsured discounts, implicit price concessions, and other discounts. The calculation of

adjusted admissions is summarized as follows:

Adjusted Admissions  =  Admissions  x  (Gross Inpatient Revenue + Gross Outpatient Revenue)

Gross Inpatient Revenue

(6)Inpatient surgeries. This metric represents the number of surgeries performed on patients who have been admitted to our hospitals. Pain management, c-

sections, and certain diagnostic procedures are excluded from inpatient surgeries.

(7)Outpatient surgeries. This metric represents the number of surgeries performed on patients who have not been admitted to our hospitals. Pain

management, c-sections, and certain diagnostic procedures are excluded from outpatient surgeries.

(8)Emergency room visits. This metric represents the total number of patients provided with emergency room treatment during the applicable period.

(9)Patient days. This metric represents the total number of days of care provided to patients admitted to our hospitals during the applicable period.

(10)Total encounters. This metric represents the total number of events where healthcare services are rendered resulting in a billable event during the

applicable period. This includes both hospital and ambulatory patient interactions.

(11)Average length of stay. This metric represents the average number of days admitted patients stay in our hospitals.

(12)Net patient service revenue per adjusted admission. This metric represents net patient service revenue divided by adjusted admissions for the applicable

period. Net patient service revenue reflects gross inpatient and outpatient charges less estimated contractual adjustments, uninsured discounts, implicit

price concessions, and other discounts.

(1)Other non-operating losses (gains) include gains and losses realized on certain non-recurring events or events that are non-operational in nature, including

(2)Cybersecurity Incident recoveries, net represents insurance recovery proceeds associated with the Cybersecurity Incident, net of incremental information

(3)Restructuring, exit and acquisition-related costs represent (i) enterprise restructuring costs, including severance costs related to work force reductions of

$3.2 million and $1.3 million for the three months ended September 30, 2024 and 2023, respectively, and $10.1 million and $10.6 million for the nine

months ended September 30, 2024 and 2023, respectively; (ii) penalties and costs incurred for terminating pre-existing contracts at acquired facilities of

$0.2 million and $0.1 million for the three months ended September 30, 2024 and 2023, respectively, and $0.6 million and $0.6 million for the nine months

ended September 30, 2024 and 2023, respectively;  and (iii) third-party professional fees and expenses, salaries and benefits, and other internal expenses

incurred in connection with potential and completed acquisitions of $0.4 million and $0.1 million for the three months ended September 30, 2024 and 2023,

respectively, and $1.0 million and $0.3 million for the nine months ended September 30, 2024 and 2023, respectively.

(4)Epic expenses consist of various costs incurred in connection with the implementation of Epic, our health information technology system. These costs

included professional fees of $0.5 million and $0.4 million for the three months ended September 30, 2024 and 2023, respectively, and $1.5 million and

$1.4 million for the nine months ended September 30, 2024 and 2023, respectively. Epic expenses do not include the ongoing costs of the Epic system.

(1)Other non-operating losses (gains) include gains and losses realized on certain non-recurring events or events that are non-operational in nature, including

(2)Cybersecurity Incident recoveries, net represents insurance recovery proceeds associated with the Cybersecurity Incident, net of incremental information

(3)Restructuring, exit and acquisition-related costs represent (i) enterprise restructuring costs, including severance costs related to work force reductions of

$3.2 million and $10.1 million for the three and nine months ended September 30, 2024, respectively; (ii) penalties and costs incurred for terminating pre-

existing contracts at acquired facilities of $0.2 million and $0.6 million for the three and nine months ended September 30, 2024, respectively; and (iii) third-

party professional fees and expenses, salaries and benefits, and other internal expenses incurred in connection with potential and completed acquisitions of

$0.4 million and $1.0 million for the three and nine months ended September 30, 2024, respectively.

(4)Epic expenses consist of various costs incurred in connection with the implementation of Epic, our health information technology system. These costs

included professional fees of $0.5 million and $1.5 million for the three and nine months ended September 30, 2024, respectively. Epic expenses do not

include the ongoing costs of the Epic system.

(5)Rent expense payable to REITs consists of rent expense of $37.2 million and $111.4 million related to the Ventas Master Lease and lease agreements

associated with MOB Transactions with Ventas for the three and nine months ended September 30, 2024, respectively, and rent expense of $2.8 million and

$8.4 million related to a lease arrangement with MPT for the lease of Hackensack Meridian Mountainside Medical Center for the three and nine months

ended September 30, 2024, respectively.

(Unaudited; Dollars in millions)

(1)Cybersecurity Incident recoveries, net represents insurance recovery proceeds associated with the Cybersecurity Incident, net of incremental

information technology and litigation costs.