The following 12 developments occurred within the past week.
1. Atlanta’s Piedmont Plans to Take Over Henry Medical Center in January
After finalizing the details of their partnership, Henry Medical Center in Stockbridge, Ga., will become a subsidiary of Atlanta-based Piedmont Healthcare. Piedmont will lease the county-owned hospital’s facilities and take over daily operations. The 215-bed HMC will be the fifth hospital added to the Piedmont system.
2. Massachusetts’ Cooley Dickinson Hospital Considers Vanguard, Mass General as Potential Partners
Cooley Dickinson Hospital in Northampton, Mass., is in active discussions with three larger organizations regarding a merger. These systems include Boston’s Massachusetts General Hospital, Nashville, Tenn.-based Vanguard Health Systems and Baystate Medical Center in Springfield, Mass.
3. Ohio’s Pike Community Hospital in Talks to Affiliate With Adena Health
Ohio’s Pike Community Hospital in Waverly may join Adena Health System, based in Chillicothe. Under the proposed deal, PCH would operate under the Adena umbrella. Adena and Pike have both alerted employees of the affiliation talks. The chief strategy officer for Adena said the parties hope to determine whether the deal will work before the end of the year.
4. Connecticut’s Waterbury Hospital, St. Mary’s Health to Merge Under JV With LHP
Plano, Texas-based LHP Hospital Group signed a letter of intent to merge a previously announced joint venture between LHP, Saint Mary’s Health System and The Waterbury Hospital, both in Waterbury, Conn. The JV will invest $400 million to construct a new medical center to replace both 367-bed Waterbury Hospital and 347-bed Saint Mary’s Hospital.
5. Florida’s Winter Haven Hospital Seeks Non-Profit Partner
Winter Haven (Fla.) Hospital is seeking partnership with another non-profit hospital in the area and has declined discussions with for-profit companies that have expressed interest. WHH President Lance Anastasio said he has discussed partnership opportunities with Lakeland (Fla.) Regional Medical Center — the other non-profit hospital in the county.
6. Oklahoma City’s St. Anthony Hospital Affiliates With Rural Medical Center
St. Anthony Hospital in Oklahoma City and Share Medical Center in Alva, Okla., formed an affiliation. Share Medical Center and St. Anthony are located approximately 152 miles apart. The partnership will offer monthly on-site clinical visits by St. Anthony cardiologists. It will also allow for more timely patient transfers from Share to St. Anthony.
7. Georgia’s Phoebe Putney Health Says FTC is “Meddling” in Transaction
Phoebe Putney Health System in Albany, Ga., filed briefs with the 11th Circuit Court of Appeals to uphold a district federal court ruling clearing the way for the purchase of Palmyra Medical Center, also in Albany. Phoebe CEO Joel Wernick has said the FTC is “meddling” by objecting to the transaction.
8. UNC Asheville, Mission Health System Affiliate on Preventative Health Programs
University of North Carolina at Asheville and Mission Health System, based in Asheville, entered into a formal affiliation to develop collaborative healthcare programs. As part of the affiliation, Mission will invest $100,000 in collaborative efforts. The affiliation will provide framework to develop programs and/or joint ventures that improve care and reduce costs
9. Carolinas HealthCare Nearing Agreement on CMC-Union Hospital Lease
Charlotte, N.C.-based Carolina HealthCare System is close to reaching a 50-year lease agreement for Carolinas Medical Center-Union Hospital in Monroe, N.C., that would keep county ownership of the hospital while making the hospital a full member of the CHS system. CHS currently operates the hospital as a stand-alone facility as part of a 25-year lease that is set to expire in 2020. Under the current lease the county earns approximately $3 million per year in payments from CHS.
10. Two Northern Indiana Hospitals Consider Affiliation Due to Healthcare Reform
Elkhart (Ind.) General Hospital and South Bend (Ind.) Memorial Hospital are in talks to affiliate under a joint board of directors, citing healthcare reform and future Medicare financial pressures as factors. The main goals of a potential affiliation would be the joint purchasing of electronic health record systems and bulk medical equipment purchases. There is no timetable for completing the partnership.
11. Duke LifePoint JV to Acquire Person Memorial Hospital
Duke LifePoint Healthcare, the joint venture between Duke University Health System and LifePoint Hospitals, signed a definitive agreement to acquire Person Memorial Hospital in Roxboro, N.C. Under the agreement, Duke LifePoint will acquire 110-bed PMH and all of its assets and has committed to investing $15 million in capital improvements at the hospital over the next 10 years. The transaction is expected to close within the next 60 to 90 days, subject to approval by the North Carolina attorney general.
12. Atlanta’s St. Joseph’s Health and Emory Healthcare File Notice for Joint Operating Company
Atlanta-based St. Joseph’s Health System and Emory Healthcare reportedly filed a required notice with the state Attorney General’s Office for a new joint operating company: Emory/Saint Joseph’s. The proposed deal will leave Emory with a 51 percent stake in St. Joseph’s. The hospitals expect to have a closing date for the deal within 90 days. The 410-bed St. Joseph’s will continue as a Catholic facility and the deal is subject to review by the Archbishop of Atlanta.
Related Articles on Hospital Transactions:
6 Legal Topics to Consider Before a Hospital Completes a Merger
To Sell or Not to Sell: 3 Considerations for Leaders of Struggling Hospitals
FTC Investigates Fine Line Between Hospital Consolidation and Anti-Competition
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