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2 Minnesota hospitals end merger talks

Two Minneapolis hospital systems called off merger talks after entering preliminary negotiations earlier this year, according to the Star Tribune.

Hennepin Healthcare and North Memorial discontinued potential merger talks that would have created a medical system with $2 billion in annual revenue. While the hospital systems planned to draft a letter of intent for a merger, Hennepin County Commissioner and Hennepin Healthcare board member Jan Callison said the letter was never sent, and talks stalled at informal conversations.

"The feeling was that discussions were premature," Ms. Callison told the Star Tribune. "The timing maybe wasn't right. There's a CEO search going on. There's a desire to have a better sense for what the hospital needs to do. And it just felt like it wasn't the right time for a conversation."

There are no plans to revive merger discussions at this time, according to Ms. Callison. The merger talks began in February.

More articles on transactions and valuation:
Temple likely to extend talks with Jefferson University on sale of cancer center
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Mayo Regional, Northern Light move forward with deal: 3 things to know

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