The following hospital mergers and acquisitions took place within the past two weeks, beginning with the most recent.
1. Marquette General Hospital in Michigan Seeks Partnership
The board of directors for Marquette (Mich.) General Hospital has made an announcement that it plans to explore partnership opportunities. Marquette General’s board of directors will explore partnerships with healthcare organizations outside the Upper Peninsula. The goal is to gain capital from another organization that will supplement current funds and help expand services.
2. City Approves $1.79B Bid From Poudre Valley Health, U. of Colorado to Lease Memorial
Colorado Springs City Council has approved a $1.79 billion bid from University of Colorado Hospital and Poudre Valley Health System to lease city-owned Memorial Health System. Colorado Springs voters will now have to approve the leasing agreement. An election date has not been finalized.
3. Rhode Island’s Westerly Hospital Expected to Hit the Market in February
The official overseeing receivership of The Westerly (R.I.) Hospital has said the hospital’s sale process could begin as early as next month. Special Master Mark Russo said the hospital is expected to remain in receivership for 12-18 months after entering receivership last month. Still, Mr. Russo hopes to begin a marketing process in February and expects a potential buyer or partner to emerge roughly three months after that.
4. CHS Terminates Acquisition of New Mexico Hospital Due to Lengthy FTC Review
Franklin, Tenn.-based Community Health Systems nixed its agreement to acquire the 26-bed Roswell (N.M.) Regional Hospital amidst the Federal Trade Commission’s extended review of the deal. The acquisition plans were announced in November and the deal was expected to close in the first quarter of this year.
5. Wisconsin’s Dean Health Eyes Closer Ties to SSM Health
Madison, Wis.-based Dean Health System and St. Louis-based SSM Health Care are inching towards one another in formal talks to explore closer collaboration. SSM already owns 5 percent of Dean. Discussions are expected to take place over the next year, and the organizations have said it is still too early to speculate on any specifics.
6. Nix Health in Texas to be Sold to Prospect Medical Holdings
San Antonio-based Nix Health is expected to be acquired by Los Angeles-based Prospect Medical Holdings by the end of this quarter. Prospect has entered into an agreement to buy Nix from a subsidiary of Merit Health Systems, based in Louisville, Ky. Financial terms of the deal were not disclosed
7. Jewish Hospital, Saint Joseph Health Form Kentucky System Sans University Hospital
Two systems within the initially proposed three-system merger in Kentucky — Jewish Hospital & St. Mary’s HealthCare and Saint Joseph Health System — have merged to form KentuckyOne Health. The merger is effective retroactively to Jan. 1. Kentucky Gov. Steve Beshear rejected the original merger plans, which included University Hospital in Louisville. The new system includes more than 80 facilities.
8. NJ’s Underwood-Memorial Health, South Jersey Healthcare to Merge
Underwood-Memorial Health Systems, based in Woodbury, N.J., and South Jersey Healthcare in Vineland, N.J., have signed a definitive agreement to merge. The organizations expect to receive state and federal approval for the merger this spring. They have been negotiating the merger since last May.
9. Henry Medical Center in Georgia Merges With Piedmont Healthcare
Henry Medical Center in Stockbridge, Ga., is now part of the Atlanta-based Piedmont Healthcare system. The 215-bed Henry has been renamed Piedmont Henry Hospital. The merger went into effect Jan. 1. The hospital includes more than 400 employed physicians.
10. Hospital Development Company Buys California’s Kingsburg District Hospital, Plans to Reopen
Kingsburg (Calif.) District Hospital has agreed to allow Hospital Developers of Newport Beach buy its closed facility for roughly $1.5 million. Hospital Developers would like to reopen the hospital and offer outpatient surgery as well as a pharmacy and laboratory.
11. Emory, St. Joseph’s Now Partners in Atlanta
Emory Healthcare and Saint Joseph’s Health System, both located in Atlanta, have finalized their partnership. The organizations announced plans to form a joint operating company roughly 10 months ago. The arrangement, which went into effect Jan. 1, leaves Emory will with majority ownership over Saint Joseph’s, split at 51-49 percent.
Related Articles on Hospital M&A:
Not a Merger, Not an Acquisition: When and Why Strategic Partnerships Make Sense
6 Overlooked Hospital M&A Concepts and Trends
Healthcare Private Equity: Opportunities, Outlook for 2012
