UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549



 

FORM 11-K



 

FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS
AND SIMILAR PLANS PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

 
(Mark One)     
x   ANNUAL REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2009

or

 
o   TRANSITION REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from  to 

Commission file number: 000-51251

Full title of the plan and the address of the plan, if different from that of the issuer listed below:

LifePoint Hospitals, Inc. Retirement Plan

Name of the issuer of the securities held pursuant to the plan and the address of its principal executive office:

LifePoint Hospitals, Inc.
103 Powell Court
Brentwood, Tennessee 37027

 

 


 
 

TABLE OF CONTENTS

LifePoint Hospitals, Inc. Retirement Plan
  
Audited Financial Statements and Supplemental Schedule
  
Years Ended December 31, 2009 and 2008

Index

 
Report of Independent Registered Public Accounting Firm     1  
Statements of Net Assets Available for Benefits     2  
Statements of Changes in Net Assets Available for Benefits     3  
Notes to Financial Statements     4  
Schedule H, Line 4i — Schedule of Assets (Held at End of Year)     12  
Signatures     13  
Exhibit Index     14  
Exhibit 23.1 Consent of Independent Registered Public Accounting Firm
        

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TABLE OF CONTENTS

Report of Independent Registered Public Accounting Firm

The Plan Sponsor and Administration Committee
LifePoint Hospitals, Inc. Retirement Plan

We have audited the accompanying statements of net assets available for benefits of the LifePoint Hospitals, Inc. Retirement Plan (the “Plan”) as of December 31, 2009 and 2008, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Plan is not required to have, nor have we been engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2009 and 2008, and the changes in its net assets available for benefits for the years then ended, in conformity with U.S. generally accepted accounting principles.

Our audits were performed for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2009, is presented for purposes of additional analysis and is not a required part of the financial statements but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in our audit of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole.

/s/ Lattimore Black Morgan & Cain, PC

Brentwood, Tennessee
June 18, 2010

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TABLE OF CONTENTS

LifePoint Hospitals, Inc. Retirement Plan
  
Statements of Net Assets Available for Benefits
  
December 31, 2009 and 2008

   
  2009   2008
Assets
                 
Cash   $ 2,537,622     $ 1,974,662  
Investments, at fair value     366,561,701       279,407,601  
Employer contributions receivable     4,263,723       1,119,114  
Income receivable     224,549       170,174  
Total assets     373,587,595       282,671,551  
Liabilities
                 
Expenses payable     1,432,233       789,018  
Excess contributions payable     149,105       225,226  
Total liabilities     1,581,338       1,014,244  
Net assets available for benefits   $ 372,006,257     $ 281,657,307  

 
 
See accompanying notes.

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TABLE OF CONTENTS

LifePoint Hospitals, Inc. Retirement Plan
  
Statements of Changes in Net Assets Available for Benefits
  
For the Years Ended December 31, 2009 and 2008

       
    2008
     2009   Participants’
Accounts
(Allocated)
  ESOP Shares
Fund
(Unallocated)
  Total
Additions
                                   
Interest and dividend income   $ 1,600,288     $ 3,507,857     $     $ 3,507,857  
Employer contributions     15,932,666             4,636,516       4,636,516  
Participants’ contributions     33,141,514       30,890,310             30,890,310  
Total additions     50,674,468       34,398,167       4,636,516       39,034,683  
Deductions
                                   
Benefits paid     22,814,773       21,277,274             21,277,274  
Interest expense                 343,445       343,445  
Administrative expenses     896,653       1,041,288             1,041,288  
Total deductions     23,711,426       22,318,562       343,445       22,662,007  
Net appreciation (depreciation) in fair value of investments     63,385,908       (79,686,169 )      (314,506 )      (80,000,675 ) 
Allocation of ESOP shares to Plan           8,437,382       (8,437,382 )       
Net increase (decrease) in net assets available for benefits     90,348,950       (59,169,182 )      (4,458,817 )      (63,627,999 ) 
Transfer of assets into the Plan from the Province Healthcare Company 401(k) Retirement Plan           57,896,530             57,896,530  
Net assets available for benefits at beginning of year     281,657,307       282,929,959       4,458,817       287,388,776  
Net assets available for benefits at end of year   $ 372,006,257     $ 281,657,307     $     $ 281,657,307  

 
 
See accompanying notes.

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TABLE OF CONTENTS

LifePoint Hospitals, Inc. Retirement Plan
  
Notes to Financial Statements
  
December 31, 2009

Note 1 — Description of the Plan

The following description of the LifePoint Hospitals, Inc. (the “Company”) Retirement Plan (the “Plan”) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.

During the year ended December 31, 2009, the Company made certain amendments to the Plan. Amendments to the Plan include the following:

(i) reduced the number of days of required service prior to participation in the Plan from 60 days to 30 days, with certain limited exceptions;
(ii) placed a limit on the percentage of an individual’s aggregate account that can be invested in the Company’s stock at 25%; and
(iii) added new or changed existing Plan descriptions and explanatory language in order to comply with the Heroes Earnings Assistance and Relief Tax Act of 2008, section 415 of the Internal Revenue Code and certain Treasury Regulations and changes required under the Internal Revenue Code.

The following description of the Plan reflects the conditions of participation in the Plan as of December 31, 2009 and considers the above noted amendments.

General

The Plan is a defined contribution plan covering all employees of the Company who have completed 30 days of service, with certain limited exceptions, as of December 31, 2009. The Plan consists of two components: an employee stock ownership plan (“ESOP”) component within the meaning of Section 4975(e)(7) of the Internal Revenue Code of 1986, as amended (the “Code”), and a 401(k) component. Effective December 31, 2008, all shares available for allocation in accordance with the ESOP component were allocated to participant accounts. Accordingly, as of December 31, 2009 and 2008, the statements of net assets available for benefits reflect all fully allocated balances, and there was no allocation of ESOP shares for the year ended December 31, 2009.

The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).

Contributions

Each participant may elect to contribute up to 50% of his or her pre-tax compensation to the Plan (“Salary Deferral Contribution”). An automatic 2% Salary Deferral Contribution is applied to all participants who do not make a contrary election. Participants who have attained age 50 before the close of the Plan year are eligible to make catch-up contributions subject to the Code’s limitations.

The Plan provides a discretionary matching contribution in an amount equal to 100% of the amount the participant has elected as a Salary Deferral Contribution for that payroll period, up to 3% of the participant’s eligible compensation (“Matching Contributions”).

In any Plan year and in addition to the Matching Contributions, the Company may make discretionary Company profit sharing contributions (“Profit Sharing Contributions”). The Profit Sharing Contributions are allocated to participant accounts on a pro rata basis based on eligible compensation earned in the year for which the contributions apply. To be eligible for an allocation of the Profit Sharing Contributions, a participant must be an employee of the Company as of the last day of the Plan year.

An additional contribution by the Company in an amount determined by the Company to ensure that the Plan satisfies certain nondiscrimination requirements of the Code may be allocated solely to the accounts of participants who are considered non-highly compensated employees and have elected to make Salary Deferral Contributions for the Plan year (“Non-elective Employer Contributions”). Alternatively, certain highly

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TABLE OF CONTENTS

LifePoint Hospitals, Inc. Retirement Plan
  
Notes to Financial Statements
  
December 31, 2009

Note 1 — Description of the Plan  – (continued)

compensated employees may be refunded a portion of their Salary Deferral Contributions in order to comply with the same nondiscrimination requirements of the Code.

For the years ended December 31, 2009 and 2008, the Company made cash Matching Contributions of $15,932,666 and $1,119,114, respectively. Additionally, for the year ended December 31, 2008, the Company allocated 279,675 shares of the Company’s common stock, valued at $3,517,402, in accordance with the ESOP component of the Plan.

Participant Accounts

Each participant’s account is credited (charged) with his or her Salary Deferral Contribution, the Company’s contributions, Plan fees and Plan earnings (losses). Allocations are based on a number of factors, as defined in the Plan document. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account. Contributions and allocations are subject to certain limitations under the Code. The Plan allows participants who have three or more years of credited service to diversify up to 100% of their allocated ESOP contributions by investing in other securities available under the Plan. The Plan limits the percentage of an individual’s aggregate account that can be invested in the Company’s stock at 25%.

Payment of Benefits

Upon retirement, disability or death, the total vested value of a participant’s account is generally distributed to the participant or his or her beneficiary, as applicable, in cash unless the participant or the beneficiary elects certain other forms of distribution available under the Plan. Upon termination of employment, if the vested value of a participant’s account is less than $1,000, the total vested balance is distributed as an automatic lump sum cash payment. For participant accounts greater than $1,000 but less than $5,000, at the time of termination of employment, the vested value of the participant’s account may be rolled into an individual retirement account on behalf of the participant. A participant’s contributions may also be withdrawn for certain hardship situations.

Participant Loans

Each participant may borrow from his or her fund account a minimum of $1,000 up to a maximum amount equal to the lesser of $50,000 or one-half of the respective participant’s vested account balance. Loan terms range from six months to five years or up to ten years if the loan is used for the purchase of a primary residence. The loans are secured by the vested balance in the respective participant’s account and bear interest at a rate commensurate with local prevailing rates, ranging from 4.0% to 9.5% as of December 31, 2009, as determined by the plan administrator. Principal and interest are paid by the participant ratably through payroll deductions.

Vesting and Forfeitures

Participants are immediately and fully vested in their Salary Deferral Contributions, Non-elective Employer Contributions, rollover contributions and investment earnings (losses) arising from these contributions. Matching Contributions and Profit Sharing Contributions are subject to the following vesting schedule:

 
Years of Service   Vested
Percentage
Less than 2 years     0 % 
2 years or more     100 % 

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LifePoint Hospitals, Inc. Retirement Plan
  
Notes to Financial Statements
  
December 31, 2009

Note 1 — Description of the Plan  – (continued)

Participants’ interest in their accounts become fully vested and nonforfeitable without regard to their credited years of service if they are employed by the Company on or after age 65, incur a total and permanent disability or die while employed by the Company.

If a participant who is not fully vested terminates employment with the Company, the participant is entitled to the vested portion of his or her account. The non-vested portion is forfeited and is used to reduce future Company contributions, pay administrative expenses of the Plan or is reallocated to participants in the Plan, as defined in the Plan document. During the years ended December 31, 2009 and 2008, the Company utilized forfeitures of $473,421 and $5,696,300 to reduce the Company’s Matching Contributions and pay administrative expenses of the Plan. Unused forfeitures totaled $136,400 at December 31, 2009. There were no unused forfeitures at December 31, 2008.

Plan Merger and Transfer of Assets

Prior to January 1, 2008, the Company administered two separate plans, the Plan and the Province Healthcare Company 401(k) Retirement Plan. Effective January 1, 2008, the Company merged the two plans into one plan. The Plan is the surviving plan of the two merged plans. The fair value of the assets transferred into the Plan during the year ended December 31, 2008 from the Province Healthcare Company 401(k) Retirement Plan totaled $57,896,530.

Plan Termination

Although it has not expressed any intent to do so, the Company has the right under the Plan document to discontinue its contributions at any time and to terminate the Plan. In the event of Plan termination, participants will receive the vested and non-vested portions of their accounts.

Note 2 — Summary of Significant Accounting Policies

Basis of Accounting

The financial statements of the Plan are prepared on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles (“GAAP”).

Use of Estimates

The preparation of financial statements in conformity with GAAP requires Plan management to make estimates and assumptions that affect the reported amount of net assets available for benefits, changes therein and disclosures of contingent assets and liabilities. Actual results could differ from those estimates.

Current Year Adoptions of New Accounting Standards

ASC 105-10, “The FASB Accounting Standards CodificationTM and the Hierarchy of Generally Accepted Accounting Principles”, (“ASC 105-10”)

The Plan adopted Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification (“ASC”) 105-10 for the Plan’s year ended December 31, 2009. ASC 105-10 establishes the FASB Accounting Standards CodificationTM as the single source of authoritative accounting principles recognized by the FASB to be applied to nongovernmental entities in the preparation of financial statements in conformity with GAAP. Accordingly, all references to GAAP provided in the Plan’s notes to its financial statements are in accordance with ASC 105-10.

ASC 820-10, “Fair Value Measurements and Disclosures”, (“ASC 820-10”)

Effective for the Plan’s year ended December 31, 2009, the Plan adopted certain additional provisions of ASC 820-10. The additional provisions of ASC 820-10 require the disclosure of further information related to the Plan’s investments by major category, as defined in the provision, as of December 31, 2009. See Note 3 for the Plan’s additional disclosure in accordance with the additional provisions of ASC 820-10.

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TABLE OF CONTENTS

LifePoint Hospitals, Inc. Retirement Plan
  
Notes to Financial Statements
  
December 31, 2009

Note 2 — Summary of Significant Accounting Policies  – (continued)

ASC 855-10, “Subsequent Events”, (“ASC 855-10”)

Effective for the Plan’s year ended December 31, 2009, the Plan adopted the provisions of ASC 855-10. ASC 855-10 establishes general standards of accounting for and disclosures of events that occur after the balance sheet date but before financial statements are issued or are available to be issued. See Note 10 for the Plan’s subsequent event disclosure in accordance with ASC 855-10.

Valuation of Investments

The Plan’s investments are stated at fair value in accordance with ASC 820-10. The Plan’s investments are further described in Note 3.

Income Recognition

Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date.

Benefit Payments

Benefits are recorded when paid.

Administrative Expenses

Administrative expenses, including legal and participant accounting expenses and all expenses directly relating to the investments, are charged to and paid by the Plan unless paid by the Company.

Note 3 — Investments

The Plan’s investments are held, and transactions are executed, by The Charles Schwab Trust Company (the “Trustee”). The Plan accounts for its investments in accordance with ASC 820-10. ASC 820-10 establishes a framework for measuring fair value and establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value.

The tiers are as follows:

   
  Level 1 —    defined as observable inputs such as quoted prices in active markets;
     Level 2 —    defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and
     Level 3 —    defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The following is a description of the valuation methodologies used to value the Plan’s assets measured at fair value in accordance with ASC 820-10:

LifePoint Hospitals, Inc. Common Stock:  Valued at the last reported sales price on the last business day of the Plan year reported by the active market in which the securities are traded.

Mutual Funds:  Valued at the last reported sales prices on the last business day of the Plan year reported by the active markets in which the individual funds are traded.

Self-directed Brokerage Accounts:  Valued at the last reported sales prices on the last business day of the Plan year reported by the active markets in which the individual underlying investments are traded.

Money Market Funds:  Valued at quoted prices in markets that are not active by a combination of inputs, including but not limited to dealer quotes who are market makers in the underlying funds and other directly and indirectly observable inputs.

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LifePoint Hospitals, Inc. Retirement Plan
  
Notes to Financial Statements
  
December 31, 2009

Note 3 — Investments  – (continued)

Collective Trusts:  Valued at the current value of and net investment gains or losses relating to the units of participation held by the Plan.

Participant Loans:  Valued at amortized cost based on their outstanding balances, which approximates fair value.

The fair values, within the fair value hierarchy in accordance with ASC 820-10, of the Plan’s assets at December 31, 2009 are as follows:

       
  Level 1   Level 2   Level 3   Total
LifePoint Hospitals, Inc. Common Stock   $ 73,890,008     $     $     $ 73,890,008  
Mutual Funds (Growth Funds)     70,284,742                   70,284,742  
Self-directed Brokerage Accounts     6,373,503                   6,373,503  
Money Market Funds (Fixed Income Funds)           60,341,341             60,341,341  
Collective Trusts (Index Funds)           148,046,210             148,046,210  
Participant Loans                 7,625,897       7,625,897  
     $ 150,548,253     $ 208,387,551     $ 7,625,897     $ 366,561,701  

The fair values, within the fair value hierarchy in accordance with ASC 820-10, of the Plan’s assets at December 31, 2008 are as follows:

       
  Level 1   Level 2   Level 3   Total
LifePoint Hospitals, Inc. Common Stock   $ 55,778,272     $     $     $ 55,778,272  
Mutual Funds (Growth Funds)     42,934,925                   42,934,925  
Self-directed Brokerage Accounts     3,295,272                   3,295,272  
Money Market Funds (Fixed Income Funds)           58,152,349             58,152,349  
Collective Trusts (Index Funds)           112,316,626             112,316,626  
Participant Loans                 6,930,157       6,930,157  
     $ 102,008,469     $ 170,468,975     $ 6,930,157     $ 279,407,601  

Changes in the fair value of participant loans, the Plan’s only Level 3 assets, for the years ended December 31, 2009 and 2008 are as follows:

   
  2009   2008
Balance at January 1   $ 6,930,157     $ 3,294,357  
Issuances, net of settlements     695,740       3,635,800  
Balance at December 31   $ 7,625,897     $ 6,930,157  

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LifePoint Hospitals, Inc. Retirement Plan
  
Notes to Financial Statements
  
December 31, 2009

Note 3 — Investments  – (continued)

The fair value of individual investments that represent 5% or more of the Plan’s net assets at December 31, 2009 and 2008 are as follows:

   
  2009   2008
State Street S&P 500 Index Fund   $ 92,666,198     $ 64,631,101  
LifePoint Hospitals, Inc. Common Stock*     73,890,008       55,778,272  
Federated Prime Cash Obligations     60,201,338       58,009,693  
State Street Passive Bond Market Index Fund     55,380,012       47,685,525  
American Funds EuroPacific Growth Fund     40,478,997       23,929,954  
Oppenheimer Main Street Small Cap A Fund     29,805,745       19,004,971  

* Includes non-participant directed investments.

For the years ended December 31, 2009 and 2008, the Plan’s investments, including investments purchased, sold and held during the year, appreciated (depreciated) as follows:

   
  2009   2008
LifePoint Hospitals, Inc. Common Stock   $ 22,621,712     $ (16,842,102 ) 
Mutual Funds     17,559,981       (27,231,973 ) 
Self-directed Brokerage Accounts     1,408,892       (1,875,781 ) 
Collective Trusts     21,795,323       (34,050,819 ) 
     $ 63,385,908     $ (80,000,675 ) 

Note 4 — Non-participant Directed Investments

The fair value of non-participant directed investments at December 31, 2009 and 2008 are as follows:

   
  2009   2008
LifePoint Hospitals, Inc. Common Stock:
                 
Number of shares     76,774       103,120  
Cost   $ 2,214,526     $ 2,993,692  
Fair Value   $ 2,497,458     $ 2,355,272  
Total fair value of non-participant directed investments   $ 2,497,458     $ 2,355,272  

Changes in the net assets related to the non-participant directed investments for the years end December 31, 2009 and 2008 are as follows:

   
  2009   2008
Non-participant directed investments at beginning of year   $ 2,355,272     $ 11,933,391  
Change in net assets:
                 
Transfers to other funds     (601,754 )      (6,994,236 ) 
Distributions to participants           (686,298 ) 
Employer cash contributions           1,119,114  
Net appreciation (depreciation) in fair value     743,940       (3,016,699 ) 
Non-participant directed investments at end of year   $ 2,497,458     $ 2,355,272  

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LifePoint Hospitals, Inc. Retirement Plan
  
Notes to Financial Statements
  
December 31, 2009

Note 5 — Note Payable to LifePoint Hospitals, Inc.

On June 9, 1999, the Plan purchased 2,796,719 shares of the Company’s common stock from the Company at $11.50 per share for an aggregate purchase price of $32,162,269. The Plan issued a note payable to the Company (the “Note”) in an amount equal to the purchase price. The Note was secured by a pledge of the unallocated stock. The Note was payable in ten annual payments of $4,636,517, which included interest on the outstanding principal balance at an annual rate of 8%. All remaining principal and interest on the Note were repaid during the year ended December 31, 2008.

The purchased shares were held by the Trustee in a suspense account as collateral and were released from the suspense account as the loan was repaid and then used to fund employer contributions. The Plan used the Company’s contributions to repay the Note principal and interest. As of December 31, 2008, all of the shares had been allocated to participant accounts.

The purchase price for the Company’s common stock was acknowledged to be no greater than the prevailing price of the Company’s common stock quoted on NASDAQ at June 9, 1999. Based on this determination, and subject to limitations contained in the Code, the Company was entitled to claim an income tax deduction for contributions to the Plan for the year to which such contributions related. The participants and beneficiaries of the Plan are not subject to income tax with respect to contributions made on their behalf until they receive distributions from the Plan.

Note 6 — Risks and Uncertainties

The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the statements of net assets available for benefits.

Note 7 — Income Tax Status

The Plan has received a determination letter from the Internal Revenue Service (the “IRS”), dated January 15, 2003, stating that the Plan is qualified under Section 401(a) of the Code and that the related trust is exempt from taxation. Subsequent to this determination by the Internal Revenue Service, the Plan was amended. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. The Plan’s administrator believes that the Plan is currently being operated in compliance with the applicable requirements of the IRS.

Note 8 — Party-In-Interest Transactions

The Plan holds investments in the form of participant loans and such transactions qualify as party-in-interest transactions. Additionally, the Plan paid $896,653 and $1,041,288 in administrative expenses to the Plan’s trustees and recordkeepers during the years ended December 31, 2009 and 2008, respectively, that are considered transactions with parties-in-interest. Finally, for the year ended December 31, 2008, contributions received by the Plan from the Company to fund principal and interest payments on the Note are considered transactions with parties-in-interest. All of these transactions are permissible under specific exemptions included in ERISA and the Code.

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LifePoint Hospitals, Inc. Retirement Plan
  
Notes to Financial Statements
  
December 31, 2009

Note 9 — Reconciliation of Financial Statements to Form 5500

The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500 at December 31, 2009 and 2008:

   
  2009   2008
Net assets available for benefits per the financial statements   $ 372,006,257     $ 281,657,307  
Less deemed distributions of participant loans     (216,113 )      (171,710 ) 
Net assets available for benefits per the Form 5500   $ 371,790,144     $ 281,485,597  

The following is a reconciliation of the change in net assets available for benefits per the financial statements to the Form 5500 for the years ended December 31, 2009 and 2008:

   
  2009   2008
Net increase (decrease) in net assets available for benefits per the financial statements   $ 90,348,950     $ (63,627,999 ) 
Add deemed distributions of participant loans at beginning of year     171,710       152,553  
Less deemed distributions of participant loans at end of year     (216,113 )      (171,710 ) 
Net increase (decrease) in net assets available for benefits per the Form 5500   $ 90,304,547     $ (63,647,156 ) 

Note 10 — Subsequent Events

In accordance with the provisions of ASC 855-10, the Plan evaluated all material events occurring subsequent to the balance sheet date for events requiring disclosure or recognition in the Plan’s financial statements.

Effective January 1, 2010, the Company changed its discretionary matching contribution percentages. As revised, the Plan provides for a discretionary matching contribution in an amount equal to 50% of the amount the participant has elected as a Salary Deferral Contribution for that payroll period, up to 6% of the participant’s eligible compensation.

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LifePoint Hospitals, Inc. Retirement Plan

EIN: 20-1538254 Plan No.: 001
Schedule H, Line 4i

Schedule of Assets (Held at End of Year)

December 31, 2009

       
(a)   (b)
Identity of Issue,
Borrower, Lessor
or Similar Party
  (c)
Description of Investment
Including Maturity Date,
Rate of Interest,
Collateral, Par or
Maturity Value
  (d)
Cost
  (e)
Current Value
       State Street S&P 500 Index Fund       Collective Trust     $ **     $ 92,666,198  
*     LifePoint Hospitals, Inc. Common Stock       Common Stock       63,401,030***       73,890,008***  
       Federated Prime Cash Obligations       Money Market Fund       **       60,201,338  
       State Street Passive Bond Market Index       Collective Trust       **       55,380,012  
       American Funds EuroPacific Growth
  Fund
      Mutual Fund       **       40,478,997  
       Oppenheimer Main Street Small Cap A
  Fund
      Mutual Fund       **       29,805,745  
*
  
    Participant Loans
  
      Interest rate ranges from 4.0% to 9.5%       **
  
      7,625,897
  
 
       Self-directed Brokerage Accounts       Various investments       **       6,373,503  
       Government Obligations       Money Market Fund       **       116,342  
       Federated Capital Reserves       Money Market Fund       **       23,661  
                       $ 366,561,701  

* Indicates a party-in-interest to the Plan.
** Not required for participant-directed investments.
*** Includes participant and non-participant directed investments.

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TABLE OF CONTENTS

SIGNATURES

The Plan.  Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

 
Date: June 18, 2010   LIFEPOINT HOSPITALS, INC. RETIREMENT PLAN
    

By:

/s/ John P. Bumpus
John P. Bumpus
Executive Vice President and Chief Administrative Officer

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TABLE OF CONTENTS

EXHIBIT INDEX

 
EXHIBIT
NUMBER
  DESCRIPTION
23.1   Consent of Independent Registered Public Accounting Firm

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