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18 recent hospital transactions and partnerships

The following healthcare mergers, acquisitions and general partnerships took place or were announced in the past week.

1. Kindred inks $700M deal to buy 36 SNFs from Ventas
As part of Kindred Healthcare's plan to exit the skilled nursing facility business, the Louisville, Ky.-based company inked agreements to purchase the 36 SNFs it currently leases from Ventas, a Chicago-based real estate investment trust.

2. Grinnell Regional Medical Center eyes partnership with UnityPoint Health, UI Healthcare
Grinnell (Iowa) Regional Medical Center signed a letter of intent to partner with UnityPoint Health – Des Moines (Iowa) and University of Iowa Health Care in Iowa City.

3. Good Shepherd Health System to merge with Christus Health
Longview, Texas-based Good Shepherd Health System will merge with Irving, Texas-based Christus Health, effective early next year. The terms of the agreement have yet to be disclosed. 

4. Madera Community Hospital launches partnership with VEP Healthcare
Concord, Calif.-based VEP Healthcare launched a partnership with Madera (Calif.) Community Hospital. VEP Healthcare will provide emergency medicine and medical services to the hospital. 

5. University of Kansas Hospital enters into joint venture with Stormont cancer center
Kansas City-based University of Kansas Hospital and Topeka, Kan.-based Stormont Vail Health's Cotton O'Neil Cancer Center agreed to embark on a joint venture to expand radiation oncology services in the area.

6. IU Health to operate Frankfort Hospital
Indianapolis-based Indiana University Health and Clinton County agreed to a five-year contract that named IU Health the new operator of Frankfort (Ind.) Hospital, effective June 1.

7. Arkansas Children's Hospital forms nursery alliance with Conway Regional
Little Rock-based Arkansas Children's Hospital and Conway (Ark.) Regional Health System embarked on an affiliation agreement to create a pediatric nursery alliance.

8. Louisiana, Ochsner Health System partner for free medical assistant training
New Orleans-based Ochsner Health System and the Louisiana Workforce Commission are accepting applications for their free medical assistant training program in spring 2017.

9. Beth Israel, Lahey back in merger talks for the 4th time
Boston-based Beth Israel Deaconess Medical Center and Burlington, Mass.-based Lahey Health are discussing a possible merger. This is the fourth time the institutions have attempted to combine operations in the past five years.

10. Sale of Doctors Hospital in the works, may reopen as clinic
Columbus, Ohio, resident John Johnson, MD, is in the process of buying the former Massillon, Ohio-based Doctors Hospital for $465,000.

11. Baptist Health to partner with Walgreens on pharmacy, clinic operations
Deerfield, Ill.-based Walgreens will transition the ownership of three retail health clinics in northeast Florida to Jacksonville, Fla.-based Baptist Health beginning in May 2017.

12. Children's Hospital Los Angeles to expand partnership with Providence
After embarking on a successful partnership with Providence Tarzana (Calif.) Medical Center in 2015, Children's Hospital Los Angeles expanded its partnership with Renton, Wash.-based Providence Health & Services.

13. CHS sells 2 hospitals for $425M as part of debt-reduction effort
Franklin, Tenn.-based Community Health Systems signed a definitive agreement to sell Spokane, Wash.-based Rockwood Health System to Tacoma, Wash.-based MultiCare for $425 million.

14. WellSpan Health to work with University of Maryland to expand cancer treatment options
York, Pa.-based WellSpan Health teamed up with the University of Maryland in College Park to treat cancer patients using proton therapy technology available at the university.

15. Sheltering Arms Hospital, VCU Health collaborate to build rehabilitation hospital
Mechanicsville, Va.-based Sheltering Arms Hospital and Richmond-based Virginia Commonwealth University Health System will partner on a 114-bed inpatient rehabilitation facility.

16. Children's Hospital of Georgia, Subway raise $3k for NICU
Physicians from the Augusta-based Children's Hospital of Georgia exchanged scrubs for subs in an effort to raise money for the hospital's neonatal intensive care unit.

17. Kansas issues proposals for partner to operate state hospital
Kansas state officials are searching for a private partner to help operate Osawatomie (Kan.) State Hospital.

18. Penn State Hershey Medical Center searches for partners after failed Pinnacle merger
After a federal judge ruled against the merger of Harrisburg, Pa.-based PinnacleHealth System and Penn State Milton S. Hershey (Pa.) Medical Center, Penn State Health's CEO said the medical center is open to pursuing new collaborations and partnerships.

More articles on transactions and valuations:
This week's 3 most-read transactions and valuations stories
County officials want to regain control of CHS-owned Indiana hospital
Fitch: Offshore, private equity firms buying into healthcare

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