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11 hospital and health system merger and acquisition updates from November

The following are hospital and health system deals that were announced, completed or canceled in the month of November:

1. Primary care disruptor VillageMD, which is majority owned by Walgreens Boots Alliance, plans to acquire physician practice group Summit Health in a transaction worth roughly $8.9 billion

2. Sioux Falls, S.D.-based Sanford Health and Minneapolis-based Fairview Health have approved negotiations for a merger — nearly one decade after their first attempt fell through, the Star Tribune reported Nov. 15.

3. Greensburg, Pa.-based Excela Health and Butler (Pa.) Health System have signed a definitive agreement to merge into a five-hospital system that is projected to generate more than $1 billion a year in revenue, triblive.com reported Nov. 21.

4. Tower Health, which has had a particularly challenging year, plans to sell Chestnut Hill Hospital in Philadelphia to Temple University Health System for $28 million. The news comes less than a year after the West Reading, Pa.-based system closed two other hospitals in the state.

5. El Segundo, Calif.-based Pipeline Health System, which filed for Chapter 11 bankruptcy in October, has agreed to sell two Chicago hospitals to Princeton, N.J.-based Ramco Healthcare Holdings and Resilience Healthcare.

6. As of Nov. 14, potential buyers can submit offers for Singing River Health System, a  three-hospital system with locations in Ocean Springs, Pascagoula and Gulfport, Miss. Supervisors from Jackson County — which owns the health systems — gave the green light for proposals to sell Singing River Health System. Potential buyers have until March 10 to submit their bids. 

7. The Centurion Foundation, an Atlanta-based nonprofit organization, has inked an asset purchase agreement to acquire the CharterCare Health Partners system from Los Angeles-based Prospect Medical Holdings.

8. Hill Country Memorial Hospital in Fredericksburg, Texas, has entered into an agreement to become part of San Antonio-based Methodist Healthcare System, according to the Fredericksburg Standard Radio-Post.

9. Phoenix-based Banner Health had its eyes on a parcel of land in Scottsdale, Ariz., but HonorHealth ended up winning a bidding war, the Phoenix Business Journal reported Nov. 17. Banner had planned to build a campus spanning more than 1 million square feet, complete with an acute-care hospital, surgery center and medical office buildings. 

10. The state of Pennsylvania has scrapped plans to sell the 300-acre former Harrisburg (Pa.) State Hospital Grounds, PennLive reported Nov. 23. Pennsylvania plans to use at least part of the grounds for laboratory space.

11. Wisconsin-based Bellin Health and Gundersen Health plan to begin operating as a combined health system Dec. 1, creating a $2.4 billion organization. The "merger of equals" was announced June 1 with the goal of both systems offering more resources and services to improve patient care.

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