Healthcare M&A continued apace in the first six months of this year. Here are some of the most significant transactions during the period.
1. Oakland, Calif.-based Kaiser Permanente agreed April 26 to acquire Geisinger Health in a deal that will make the Danville, Pa.-based health system the first to join Risant Health, a new nonprofit organization created by the Kaiser Foundation Hospitals.
Risant Health aims to expand and accelerate the adoption of value-based care in "diverse, multi-payer, multi-provider, community-based health system environments," the two systems said.
2. BJC HealthCare, based in St. Louis, and St. Luke's Health System, based in Kansas City, Mo., have signed a nonbinding letter of intent to form an integrated $10 billion academic health system.
The two entities envision the system will become "the premier Midwest destination for patient care, clinical research and medical education and the region's most exceptional place to work and practice medicine," according to a May 31 news release shared with Becker's.
3. CommonSpirit completed its acquisition of Steward Health Care's sites of care in Utah, which will be managed by Centennial, Colo.-based Centura Health.
Chicago-based CommonSpirit's acquisition includes five hospitals, according to a May 1 Centura news release. CommonSpirit also acquired more than 35 medical group clinics and a clinically integrated network of providers from Dallas-based Steward.
4. Two Wisconsin health systems — Froedtert Health and ThedaCare — have signed a letter of intent to merge into a single system.
Milwaukee-based Froedtert and Neenah-based ThedaCare announced the plan to combine April 11 with the goal to close the deal by the end of the year. The combined entity would include 18 hospitals.
5. The University of Michigan Health has officially acquired Lansing, Mich.-based Sparrow Health System to become a $7 billion health system with more than 200 sites of care, according to an April 3 news release shared with Becker's.
Sparrow Health, a six-hospital system with about 10,000 caregivers, officially joined University of Michigan Health on April 1.
6. Albuquerque, N.M.-based Presbyterian Healthcare Services and West Des Moines, Iowa-based UnityPoint Health said March 2 they are exploring the possibility of a merger that could result in an approximately $11 billion entity.
The combined system would have almost 50 hospitals, with further advantages including Presbyterian Healthcare's robust insurance arm.
7. A little more than three months after announcing intent to combine, St. Augustine, Fla.-based Flagler Health+ and Gainesville, Fla.-based UF Health said May 16 they have reached a definitive agreement to merge.
Flagler Health+ has one hospital — 335-bed Flagler Hospital. UF Health includes two acute-care hospitals in Gainesville and Jacksonville, along with a psychiatric hospital, rehab centers, home health services throughout 17 counties and more than 45 physician practices with more than 700 providers.
8. Sayre, Pa.-based the Guthrie Clinic agreed to acquire the Binghamton, N.Y.-based Our Lady of Lourdes Memorial Hospital system.
Financial terms of the deal were not immediately disclosed, but the transaction involves the transfer of ownership from St. Louis-based Ascension.
9. Kalispell, Mont.-based Logan Health, a six-hospital system, and Billings Clinic inked a letter of intent Feb. 15 to explore merging into one independent health system to improve healthcare access, service and quality in Montana and Northern Wyoming.
By joining together, the two systems will be better equipped to adapt to the changing healthcare environment, maintain and grow services and meet the needs of local families, according to the Feb. 15 news release.
10. Aurora, Colo.-based UCHealth and Pueblo, Colo.-based Parkview Health System on Jan. 24 signed an agreement to merge in mid-2023.
UCHealth, a 12-hospital system, has agreed to invest almost $200 million into Parkview and the community, including staff recruitment efforts; supporting nurses and clinical education programs; upgrading facilities, equipment and technology; and helping stabilize Parkview's finances.
11. Butler (Pa.) Health System and Greensburg, Pa.-based Excela Health System finalized their merger, creating a five-hospital system that will serve about 750,000 patients.
The merger has been in the works since June 2022. With 7,300 employees and more than 1,000 practitioners, it is expected to draw $1 billion in revenue under its new name, Independence Health System.