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16 Recent Transactions and Mergers

The following hospital mergers, acquisitions and general transactions took place within the past week, beginning with the most recent.

1. Capella Healthcare, Mercy Health Deal Crumbles
More than a year after entering the due diligence phase of a proposed asset purchase agreement, Franklin, Tenn.-based Capella Healthcare and Chesterfield, Mo.-based Mercy discontinued discussions to join their respective hospitals in Hot Springs, Ark.

2. Superstorm Sandy-Damaged Long Beach Medical Center May Not Reopen Without Merger
Long Beach (N.Y.) Medical Center, closed since Superstorm Sandy hit in late October, may not reopen without a merger partner, potentially Oceanside, N.Y.-based South Nassau Communities Hospital.

3. Rhode Island OKs Care New England to Acquire Memorial Hospital
The Rhode Island Department of Health has approved the affiliation between Memorial Hospital of Rhode Island in Pawtucket and Care New England Health System, based in Providence, R.I..

4. Montefiore Medical Center Raises Bid to $58.8M to Buy Sound Shore Health System
New York City-based Montefiore Medical Center raised its offer $4.75 million to more than $58.75 million to buy New Rochelle, N.Y.-based Sound Shore Health System.

5. LSU Closes Moss Regional, Gives Up Management of 3 Hospitals
This past Monday, three hospitals within Baton Rouge-based Louisiana State University Health Care Services Division officially left LSU for private partners, and LSU also shuttered all inpatient services at its hospital in Lake Charles.

6. Mission Health Finalizes Angel Medical Center Deal
Mission Health in Asheville, N.C., finalized its acquisition of Angel Medical Center.

7. Sutter Health May Become Majority Owner of Stanislaus Surgical Hospital
Stanislaus Surgical Hospital, a physician-owned hospital in Modesto, Calif., entered exclusive negotiations to transfer majority ownership to Sacramento, Calif.-based nonprofit system Sutter Health.

8. Tennessee AG Delays Unicoi County Hospital Sale to Mountain States Health Alliance
The Tennessee attorney general's office delayed its decision on whether to approve the sale of Unicoi County Memorial Hospital in Erwin, Tenn., to Johnson City, Tenn.-based Mountain States Health Alliance, citing concerns regarding open meetings laws and a lack of approval from local and county authorities.

9. HMA Selected to Lease Bert Fish Medical Center
The Southeast Volusia Hospital District entered exclusive negotiations to sign a letter of intent for Naples, Fla.-based for-profit chain Health Management Associates to lease management of Bert Fish Medical Center in New Smyrna Beach, Fla.

10.Queen's Health, North Hawaii Community Hospital Sign Initial Affiliation Deal

The Queen's Health Systems in Honolulu and North Hawaii Community Hospital in Kamuela signed an agreement to explore an affiliation.

11. Greenville Health System Finalizes Affiliation With Laurens County Health
Greenville (S.C.) Health System and Laurens County Health Care System in Clinton, S.C., ended nine-month negotiations by signing a deal to affiliate.

12. Winchester Hospital Chooses Lahey Health for Affiliation
Lahey Health in Burlington, Mass., signed a letter of intent to affiliate with Winchester (Mass.) Hospital.

13. Vatican Approves Sale of Mercy Health System to Eastern Maine Healthcare Systems
The Vatican approved the sale of Catholic-based Mercy Health System in Portland, Maine, to Eastern Maine Healthcare Systems based in Bangor.

14. University of Michigan Health System Gains Affiliation, Part-Ownership in MidMichigan Health
The University of Michigan Health System, based in Ann Arbor, signed an affiliation agreement with Midland, Mich.-based MidMichigan Health, granting UMHS a minority ownership interest in MidMichigan in exchange for limited branding rights.

15. Eastern Connecticut Health Network to Sell to For-Profit Chain
Whispers surfaced that Eastern Connecticut Health Network, a two-hospital system based in Manchester, may sell its assets to one of two for-profit hospital operators.

16. Tenet to Acquire Vanguard for $4.3B
Dallas-based for-profit hospital giant Tenet Healthcare Corp. signed a definitive agreement to acquire private-equity backed Vanguard Health Systems, based in Nashville, Tenn., for $21 per share, a $4.3 billion all-cash transaction.

More Articles on Hospital Sales and Partnerships:
New York-Presbyterian Completes Downtown Hospital Merger
Merger Planned Between Covenant Health, Cumberland Medical Center
27 Statistics on Hospital CEO Adjustments and SERPs

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