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14 recent hospital transactions and partnerships

The following healthcare mergers, acquisitions, partnerships and general transactions took place or were announced during the past week.

1. Fallbrook Regional Health District board delays sale of hospital building to Crestwood Behavioral Health
The Fallbrook (Calif.) Regional Health District board delayed the sale of its Fallbrook Hospital building to Sacramento, Calif.-based Crestwood Behavioral Health by extending escrow to Aug. 31.

2. University of Florida Health, Sacred Heart partner on neonatal, pediatric transportation initiative
Pensacola, Fla.-based Sacred Heart Health System and UF Health ShandsCair, the critical transport system for the University of Florida Health Shands Hospital in Gainesville, partnered to provide ground and air transportation to Sacred Heart patients beginning in October.

3. 2 Kansas hospitals to examine potential alliance
Salina (Kan.) Regional Health Center and Geary Community Hospital in Junction City, Kan., entered into a period of due diligence Aug. 24 to form a strategic alliance.

4. State OKs Regional Health's purchase of 2 Washington hospitals
The Washington State Department of Health recommended regulators approve Sunnyside, Wash.-based Regional Health's application to purchase Toppenish (Wash.) Community Hospital and Yakima (Wash.) Regional Medical and Cardiac Center, pending agreement to certain conditions.

5. Connecticut hospital's plan sell outpatient facilities to Quest Diagnostics draws criticism
New Britain-based The Hospital of Central Connecticut's proposed deal to sell three remote patient service centers to Madison, N.J.-based Quest Diagnostics drew the ire of several hospital employees.

6. Jefferson Healthcare rescinds proposal to acquire Washington behavioral health hospital
Port Townsend, Wash.-based Jefferson Healthcare officials said the health system is backing off its proposed acquisition of Discovery Behavioral Health, also in Port Townsend, and is instead pursuing a "tight affiliation."

7. Cleveland Clinic in line to manage proposed hospital in China
Cleveland Clinic reportedly signed a management consulting agreement with an unnamed organization to build a hospital in Shanghai July 1.

8. Partners to examine Care New England acquisition amid financial issues
A Boston-based Partners HealthCare executive said the health system plans to hold off on finalizing its proposed acquisition of Providence, R.I.-based Care New England Health System until CNE's finances improve.

9. Georgia AG approves sale of bankrupt hospital to Navicent Health subsidiary
The State of Georgia Office of the Attorney General approved the proposed sale of Oconee Regional Medical Center in Milledgeville, Ga., to a subsidiary of Macon, Ga.-based Navicent Health Aug. 21.

9. Louisiana governor delays cutting ties with safety-net hospital operator
Democratic Louisiana Gov. John Bel Edwards postponed the potential termination of the state's partnership with Shreveport, La.-based BRF, which operates two safety-net hospitals in Shreveport and Monroe, La.

10. Mednax acquires Radiology Associates of South Florida
Mednax, a Sunrise, Fla.-based physician-led provider of healthcare solutions, acquired Radiology Associates of South Florida in Miami.

11. Meridian Behavioral Health Systems to acquire Highland Hospital
Charleston, W.Va.-based HHA Inc., the parent company of Charleston, W.Va.-based Highland Hospital, approved a definitive agreement to sell various facilities to Brentwood, Tenn.-based Meridian Behavioral Health Systems Aug. 11.

12. BJC Healthcare sells shuttered 127-bed hospital for $13
St. Louis-based BJC Healthcare sold Mineral Area Regional Medical Center, a shuttered 127-bed facility in Farmington, Mo., for $13 in May.

13. Clark Regional Medical Center joins University of Kentucky cancer network
Clark Regional Medical Center, a 79-bed community hospital in Winchester, Ky., joined the Lexington-based University of Kentucky Markey Cancer Center Affiliate Network Aug. 22.

14. Presence Health to join Ascension
St. Louis-based Ascension, the nation's largest nonprofit Catholic health system, signed a nonbinding letter of intent to acquire Chicago-based Presence Health, Illinois' largest Catholic health system.

More articles on transactions and valuations:
The 3 most-read transactions and valuations stories this week
15 recent hospital transactions and partnerships
Petaluma Valley Hospital transition delayed 'a year or more' after complications in EMR transfer

 

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