Hospitals Buying Physicians: 9 Recent Transactions

The following nine transactions took place within the past two weeks and are presented beginning with the most recent.

1. UPMC Acquires Erie Physicians Network
UPMC purchased Erie (Pa.) Physicians Network, which includes 10 medical offices and three urgent care centers. Effective Nov. 1, the physician group will become known as Erie Physicians Network – UPMC. UPMC officials would not disclose the terms of the sale. While a majority of the group's 33 physicians have signed contracts with UPMC, 14 have signed to provide care through Saint Vincent Health Center in Erie, Pa.

2. WakeMed Health Acquires Urgent Care Center, Primary Care Practice in N.C.
Raleigh, N.C.-based WakeMed Health and Hospitals acquired an urgent care practice and primary care practice in its local market. Effective Oct. 1, Accent Urgent Care will become part of the WakeMed Physician Practices network. The practice has two locations in Raleigh and Cary, N.C., and more than a dozen providers. Effective Nov. 1, North Wake Internal Medicine in Raleigh and its three physicians will become part of WakeMed as well.  

3. Carilion Clinic to Acquire Cardiology Associates of Virginia
Roanoke, Va.-based Carilion Clinic will acquire Cardiology Associates of Virginia. The four physicians in the group will be employed by the health system. Financial terms of the deal were not disclosed.

4. Duke University Health Acquires Surgical Practice
Durham, N.C.-based Duke University Health System acquired Tolnitch Surgical Associates, a private surgical practice focused on breast cancer and disease. The three-surgeon group will merge with Duke's Private Diagnostic Clinic on Oct. 1. The financial terms of the agreement were not disclosed.

5. Tennessee's Methodist Le Bonheur Healthcare Acquires Internal Medicine Practice
Methodist Le Bonheur Healthcare in Memphis, Tenn., acquired Midtown Internal Medicine, also in Memphis. The practice will move from its location into the Methodist medical office building and open Oct. 12. After this acquisition, Methodist will have nine affiliated physician practices in its Foundation Medical Group.

6. Cardiology Consultants Joins Florida's Baptist Health Care
The cardiovascular group Cardiology Consultants has joined Pensacola, Fla.-based Baptist Health Care. Cardiology Consultants affiliated with Baptist Health Care in 2010 and is now aligning fully to build a regional heart and vascular program. It will establish its main office location at Baptist Hospital in Pensacola and provide office visits, diagnostic care and treatments at all four BHC hospitals and its two medical parks.

7. UnitedHealth Group Buys 2,300-Physician Practice in California
UnitedHealth Group will acquire 2,300 physicians through its purchase of Monarch Healthcare, the largest medical group in California's Orange County. UnitedHealth's business platform Optum will take control of Monarch's management. Optum, which is separate from UnitedHealth's insurance operation, also controls the management of two other California physician groups: AppleCare Medical Group and Memorial HealthCare Independent Practice Association.

8. St. Joseph's Health Acquires Two Vascular Practices in Atlanta
St. Joseph's Health System in Atlanta acquired two vascular practices, adding seven physicians to its staff. The system has purchased Georgia Vascular Clinic and The Vascular Institute of Georgia, both located in Atlanta. Financial details of the acquisitions were not disclosed.

9. New York's White Plains Hospital Acquires 9-Physician Practice
White Plains Hospital in Westchester, N.Y., recently acquired White Plains Surgical Specialists, a nine-physician practice. The practice will join White Plains Hospital Physician Associates, which is now comprised of three physician practices: the surgical specialists group, a two-physician obstetrics practice and a three-surgeon orthopedics group.

Related Articles on Hospitals and Physicians:

When Physician Employment May Not Make Sense: How to Turn Away Physicians Seeking Employment
Physician-Hospital Joint Ventures; Alignment of Physicians With Hospitals
5 Foundational Questions for Hospitals Acquiring Physician Practices

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