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15 recent hospital transactions and partnerships

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

1. St. Luke's Hospital transition to independent facility 'hectic but fruitful' after split with ProMedica
Roughly five months after it cut ties with Toledo, Ohio-based ProMedica Health System, Maumee, Ohio-based St. Luke's Hospital President Dan Wakeman said the hospital's transition into an independent entity has been "hectic but fruitful."

2. Bankrupt North Philadelphia Health System to sell shuttered hospital
North Philadelphia Health System, which filed for Chapter 11 bankruptcy Dec. 30, inked a deal to sell St. Joseph's Hospital in Philadelphia, which closed in March 2016.

3. Mayo Clinic, CHOP collaborate to research rare congenital heart defect
Rochester, Minn.-based Mayo Clinic's Todd and Karen Wanek Family Program for Hypoplastic Left Heart Syndrome and the Children's Hospital of Philadelphia partnered to research hypoplastic left heart syndrome, a rare and complex congenital heart condition.

4. Unity Medical Center to partner with Concord Medical Group
Manchester, Tenn.-based Unity Medical Center inked a partnership agreement with Knoxville, Tenn.-based Concord Medical Group.

5. Union Hospital, IU Health collaborate to improve ED services
Terre Haute, Ind.-based Union Hospital and Indianapolis-based University of Indiana Health partnered to improve accessibility to local, highly skilled emergency room physicians.

6. Shields Health Solutions expands 5-year partnership with Fairview Health Services
Quincy, Mass.-based Shields Health Solutions expanded its five-year partnership with Minneapolis-based integrated health system Fairview Health Services.

7. Indiana hospital partners with The Milk Bank to open breast milk collection site
Jasper, Ind.-based Memorial Hospital and Health Care Center partnered with The Milk Bank, a nonprofit, to open one of the first breast milk collection sites in the area, effective Feb. 22.

8. PeaceHealth's new lab contract may affect 500 jobs​
Under a new agreement, Madison, N.J.-based Quest Diagnostics will assume management responsibilities for 11 PeaceHealth outreach laboratory services operations. If approved, the acquisition will lay off nearly 500 employees at the Vancouver, Wash.-based health system.

9. Allina Health, HealthPartners expand existing alliance
Minneapolis-based Allina Health extended its health insurance partnership with Bloomington, Minn.-based HealthPartners.

10. Duke Health, WakeMed collaborate on heart health services
Durham, N.C.-based Duke Health and Raleigh, N.C.-based WakeMed Health & Hospitals signed an agreement to integrate their heart programs into a single heart service, effective March 1.

11. Catholic Health Systems asset merger still not complete 5 years later
Five years after beginning work on a proposed merger to combine 10 of its entities, Buffalo, N.Y.-based Catholic Health System officials said the integration project will not be completed until at least 2018.

12. CHS to sell 8 hospitals to Steward Health Care
Franklin, Tenn.-based Community Health Systems signed a definitive agreement to sell eight hospitals in Florida, Ohio and Pennsylvania to Boston-based Steward Health Care.

13. Sitka Community Hospital abandons JV talks, looks to merge with SEARHC
The Sitka (Alaska) Community Hospital board scrapped plans for the hospital to engage in a joint venture with the Southeast Alaska Regional Health Consortium and instead discussed a possible merger between the two organizations.

14. Massena Memorial Hospital aims to decide affiliate institution by Feb. 20
Massena (N.Y.) Memorial Hospital CEO Robert Wolleben said the hospital board is close to choosing an affiliate and may make a decision as early as Feb. 20.

15. Florida startup signs LOI to purchase Sonoma West Medical Center
The Sebastopol, Calif.-based Sonoma West Medical Center board approved a Florida-based startup's letter of intent to purchase the financially struggling medical center.

More articles on transactions and valuations:
This week's 3 most-read transactions and valuations stories
Grand View Health, CMS, others form integrated delivery network
21 recent hospital transactions and partnerships

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