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16 hospital M&A moves to know in the 1st half of 2024

From a Tenet selling spree to Risant Health's acquisition of Geisinger, here are 16 hospital merger and acquisition moves to know from the first six months of 2024. 

Note: This is not a comprehensive list. 

1. Birmingham, Ala.-based UAB Health on June 25 agreed to acquire the five-hospital Ascension St. Vincent's Health System from St. Louis-based Ascension. The $450 million deal still needs approval from federal regulators and is expected to close this fall.

2. Risant Health, a nonprofit formed under Oakland, Calif.-based Kaiser Permanente, signed a definitive agreement June 21 to acquire Greensboro, N.C.-based Cone Health.

3. Winston-Salem, N.C.-based Novant Health on June 18 called off its planned $320 million acquisition of two North Carolina hospitals from Community Health Systems after an appellate court granted the Federal Trade Commission an emergency injunction blocking the deal. 

4. Philadelphia-based Jefferson and Allentown, Pa.-based Lehigh Valley Health Network signed a definitive agreement May 15 to merge into a 30-hospital system with more than 700 care sites. 

5. Risant Health acquired Danville, Pa.-based Geisinger Health on March 31. 

6. Roseville, Calif.-based Adventist Health acquired two California hospitals from Dallas-based Tenet on March 29. 

7. Los Angeles-based UCLA Health on March 29 acquired a 260-bed hospital from Dallas-based HCA Healthcare's Far West division. 

8. UCI Health completed its $975 million acquisition of four Southern California hospitals from Tenet on March 26.

9. Ascension Michigan's Northern region locations in Saginaw, Tawas and Standish on March 26 announced plans to join Midland-based MyMichigan Health pending standard regulatory and other required third-party approvals.

10. Northwell Health and Nuvance Health on Feb. 28 entered into a strategic agreement to combine systems, expanding their reach with 28 hospitals across New York and Connecticut. 

11. Medical City Healthcare in Dallas, a subsidiary of HCA Healthcare, completed its purchase of Trinity Regional Hospital Sachse (Texas) from Sunland Medical Foundation on Feb. 1. The bond-financed hospital, located in a northeastern suburb of Dallas, opened in 2021 and filed for Chapter 11 bankruptcy protection in 2023, when it also began its search for a buyer. 

12. Novant Health on Feb. 1 completed its $2.4 billion acquisition of three hospitals along with their affiliated physician clinics from Tenet. 

13. Venture capital firm General Catalyst on Jan. 17 signed a nonbinding agreement to acquire Akron, Ohio-based Summa Health and transform the health system into a for-profit entity. 

14. The University of Pennsylvania Health System in Philadelphia and Doylestown (Pa.) Health signed a nonbinding letter of intent Jan. 11 to explore if Doylestown will become part of Penn Medicine. 

15. Duluth, Minn.-based Essentia Health and Marshfield (Wis.) Clinic Health System on Jan. 5 ended efforts to combine into a 25-hospital regional health system. 

16. St. Louis-based BJC HealthCare and Kansas City, Mo.-based Saint Luke's Health System finalized their merger Jan. 1.

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