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
2 Maine hospital systems to merge
Mayo Regional, Northern Light move forward with deal: 3 things to know
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
