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13 recent hospital transactions and partnerships

The following healthcare mergers, acquisitions and general partnerships took place or were announced the week of June 12. 

1. Struggling Indian River Medical Center eyes affiliation with nonprofit hospital group
Indian River Medical Center, a 332-bed nonprofit hospital in Vero Beach, Fla., is searching for a nonprofit affiliate to help the financially struggling hospital stay afloat.

2. Florida Hospital, Walgreens open 15 clinics in Tampa Bay
Orlando-based Florida Hospital — part of Altamonte Springs, Fla.-based Adventist Health System — and Deerfield, Ill.-based Walgreens opened 15 retail healthcare clinics across Tampa Bay, Fla., June 15.

3. RCCH HealthCare, UAB Health System to create cancer center
Brentwood, Tenn.-based RCCH HealthCare Partners — the parent company of Florence, Ala.-based Eliza Coffee Memorial Hospital — and the University of Alabama at Birmingham Health System partnered to construct a comprehensive cancer treatment center.

4. Methodist Hospital, Deaconess partnership pushes forward
Henderson, Ky.-based Methodist Hospital Interim President and CEO Benny Nolen said the hospital still aims to partner with Deaconess, a six-hospital system in Evansville, Ind.

5. Palmetto Health, Greenville Health to create 13-hospital system
Columbia, S.C.-based Palmetto Health and Greenville (S.C.) Health System declared their intent to integrate June 15.

6. Foundation Health Partners joins Mayo Clinic Care Network
Foundation Health Partners, which owns Fairbanks (Alaska) Memorial Hospital, became a member of the Mayo Clinic Care Network June 13.

7. Highlands Regional Medical Center affiliates with University of Kentucky cancer center
Prestonsburg, Ky.-based Highlands Regional Medical Center affiliated with the University of Kentucky Markey Cancer Center in Lexington.

8. Kentucky VA considers relocating to KentuckyOne hospital property
Louisville, Ky.-based Robley Rex VA Medical Center may relocate to one of two properties recently put up for sale by KentuckyOne Health, also in Louisville.

9. Quest Diagnostics acquires 2 laboratories co-owned by Baylor Scott &White, US Oncology
Madison, N.J.-based Quest Diagnostics signed definitive agreements to acquire two laboratory operations in Lewisville, Texas: Med Fusion and ClearPoint Diagnostic Laboratories.

10. Los Angeles insurer donates $500k to community hospital partner to help high-risk patients
L.A. Care Health Plan in Los Angeles donated $500,000 to its partner institution Los Angeles-based Martin Luther King, Jr. Community Hospital to fund the organization's advanced care clinic.

11. Tennessee commission strikes down potential sale of public hospital
Williamson County commissioners decided to not pursue a proposal to create a task force to determine if selling Williamson Medical Center — a 185-bed facility in Franklin, Tenn. — is a feasible option to bring more money to the county.

12. Washington Health System to form clinically integrated network with 3 providers
Washington (Pa.) Health System revealed plans to form a clinically integrated network with Pittsburgh-based St. Clair Hospital, Greensburg, Pa.-based Excela Health and Butler (Pa.) Health System.

13. ProMedica's acquisition of Michigan health center delayed until January
Community Health Center of Branch County President and CEO Randy DeGroot said the hospital's sale to Toledo, Ohio-based ProMedica will be delayed until at least January 2018 to accommodate the passing of state legislation to make the hospital a nonprofit entity.

More articles on transactions and valuations:
2 Rhode Island healthcare unions oppose bill to expedite Memorial Hospital sale
Slow government M&A reviews hamper companies' strategies: 7 things to know
Tennessee pharmacy chain gets $450M in additional financing to purchase Rite Aid's assets

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