Two systems are mulling a merger that would span four states, while members of a New Hampshire system are seeking to unwind their 2018 combination.
Here are the two hospital M&A moves that Becker’s reported on the week of July 14:
Virtua Health, ChristianaCare pursue combination
Newark, Del.-based ChristianaCare and Marlton, N.J.-based Virtua Health signed a nonbinding letter of intent on July 16 to form a regional nonprofit health system.
The system would comprise care in more than 10 counties across Delaware, Maryland, New Jersey and Pennsylvania, nearly 30,000 employees, more than 600 care sites and academic programs with more than 500 fellows and residents. Together, the combined entity would generate more than $6 billion in annual revenues.
“Our vision for this new health system — when Medicare and Medicaid are facing cuts and many hospitals are struggling to stay open — gives me hope and excitement for our future and for the health of our neighbor,” said ChristianaCare Board Chairman George Foutrakis.
The systems will work to negotiate and sign definitive agreements while seeking regulatory approval.
SolutionHealth files to unwind merger
The boards of Bedford, N.H.-based SolutionHealth, Manchester, N.H.-based Elliot Health System and Nashua-based Southern New Hampshire Health submitted a proposal to New Hampshire officials July 14 seeking to dissolve the system and return to separate, independent, board-governed systems.
The system launched in 2018 after Elliot Health System and Southern New Hampshire Health signed an agreement to combine operations. The combined entity, SolutionHealth, aimed to provide and improve medical care through the sharing of EHRs and other advancements in medical technology. Merrimack, N.H,.-based Home Health & Hospice Care was added as a member in 2022.
The members said in the petition that after good-faith efforts to collaborate through the combination, they determined the systems are “better positioned to continue to provide quality, efficient physician and mental health care services” by unwinding the merger.
The proposal is being reviewed by New Hampshire’s Charitable Trusts Unit, which could take up to six months.
