SEC Form SC 13G filed by Ardent Health Partners Inc.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No.     )*

Ardent Health Partners, Inc.

(Name of Issuer)

Common Stock, $0.01 par value per share
(Title of Class of Securities)

03980N107
(CUSIP Number)

July 17, 2024
 (Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

¨ Rule 13d-1(b)

¨ Rule 13d-1(c)

x Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13G

(1) Ventas, Inc.’s beneficial ownership of the Issuer’s common stock consists of 9,342,501 shares of common stock held by ALH Holdings, LLC. Ventas, Inc., as the sole stockholder of VTR AMS, Inc., the sole and managing member of ALH Holdings, LLC, has voting and dispositive power of the shares held by ALH Holdings, LLC.

(2) Calculation based on 142,732,815 shares of the Issuer’s common stock outstanding as of November 7, 2024, as reported in the Issuer’s Form 10-Q for the period ended September 30, 2024.

Item 1.

(a) Name of Issuer: Ardent Health Partners, Inc.

(b) Address of Issuer’s Principal Executive Offices:

340 Seven Springs Way, Suite 100
Brentwood, Tennessee 37027

Item 2.

(a) Name of Person Filing: Ventas, Inc.

(b) Address of Principal Business Office or, if None, Residence:

353 N. Clark Street, Suite 3300
Chicago, Illinois 60654

(c) Citizenship: Ventas, Inc. is a Delaware corporation.

(d) Title of Class of Securities: Common Stock, $0.01 par value per share

(e) CUSIP No.: 03980N107

Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

(a) ¨ Broker or dealer registered under Section 15 of the Act;

(b) ¨ Bank as defined in Section 3(a)(6) of the Act;

(c) ¨ Insurance company as defined in Section 3(a)(19) of the Act;

(d) ¨ Investment company registered under Section 8 of the Investment Company Act of 1940;

(e) ¨ An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) ¨ An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) ¨ A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) ¨ A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) ¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940;

(j) ¨ A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J);

(k) ¨ Group, in accordance with § 240.13d-1(b)(1)(ii)(K).

If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution: ____

Item 4. Ownership

(a) Amount Beneficially Owned: 9,342,501 (3)

(b) Percent of Class: 6.55% (4)

(c) Number of shares as to which such person has:

(i) Sole power to vote or to direct the vote:

9,342,501 (3)

(ii) Shared power to vote or to direct the vote:

0

(iii) Sole power to dispose or to direct the disposition of:

9,342,501 (3)

(iv) Shared power to dispose or to direct the disposition of:

0

Item 5. Ownership of Five Percent or Less of a Class.

N/A.

Item 6. Ownership of more than Five Percent on Behalf of Another Person.

N/A.

Item 7. Identification and classification of the subsidiary which acquired the security being reported on by the parent holding company or control person.

See Exhibit 99.1.

Item 8. Identification and classification of members of the group.

N/A.

Item 9. Notice of Dissolution of Group.

N/A.

Item 10. Certifications.

N/A.

(3) Ventas, Inc.’s beneficial ownership of the Issuer’s common stock consists of 9,342,501 shares of common stock held by ALH Holdings, LLC. Ventas, Inc., as the sole stockholder of VTR AMS, Inc., the sole and managing member of ALH Holdings, LLC, has voting and dispositive power of the shares held by ALH Holdings, LLC.

(4) Calculation based on 142,732,815 shares of the Issuer’s common stock outstanding as of November 7, 2024, as reported in the Issuer’s Form 10-Q for the period ended September 30, 2024.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: November 14, 2024

The original statement shall be signed by each person on whose behalf the statement is filed or such person’s authorized representative. If the statement is signed on behalf of a person by such person’s authorized representative other than an executive officer or general partner of the filing person, evidence of the representative’s authority to sign on behalf of such person shall be filed with the statement; provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath such person’s signature.

Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001).

Exhibit 99.1

Identification of the subsidiary which acquired the security being reported on by the parent holding company.

Ventas, Inc.’s beneficial ownership of the Issuer’s common stock consists of 9,342,501 shares of common stock held by ALH Holdings, LLC. Ventas, Inc., as the sole stockholder of VTR AMS, Inc., the sole and managing member of ALH Holdings, LLC, has voting and dispositive power of the shares held by ALH Holdings, LLC.