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29 recent hospital transactions and partnerships

The following healthcare mergers, acquisitions and general partnerships took place or were announced the week of May 1.

1. KU Health, Ardent Health join forces to take over Kansas hospital
Kansas City-based University of Kansas Health System and Nashville, Tenn.-based Ardent Health Services plan to form a joint venture company to acquire 378-bed St. Francis Health in Topeka, Kan.

2. LabCorp completes acquisition of Providence Health, CHI-owned laboratories
Burlington, N.C.-based Laboratory Corporation of America completed its acquisition of Spokane, Wash.-based Pathology Associates Medical Laboratories.

3. Wilkes Regional to rebrand after closing lease with Wake Forest Baptist
North Wilkesboro, N.C.-based Wilkes Regional Medical Center will rebrand once its lease agreement with Winston-Salem, N.C.-based Wake Forest Baptist Medical Center is finalized July 1.

4. Christus Health to acquire Louisiana medical center
Irving, Texas-based Christus Health revealed plans to acquire Lake Area Medical Center, an 88-bed facility in Lake Charles, La.

5. St. Joseph Regional Medical Center partners with RCCH HealthCare Partners
Lewiston, Idaho-based St. Joseph Regional Medical Center formed a partnership with Brentwood, Tenn.-based RCCH HealthCare Partners, which took effect May 1.

6. Northwell Health forms clinical affiliation with Crouse Hospital
The board of directors for Syracuse, N.Y.-based Crouse Hospital approved a proposal to enter into a clinical affiliation with New Hyde Park, N.Y.-based Northwell Health.

7. Mount Sinai in talks to partner with South Nassau Communities Hospital
Oceanside, N.Y.-based South Nassau Communities Hospital and New York City-based Mount Sinai Health System signed a nonbinding letter of intent to affiliate.  

8. Methodist Healthcare to purchase South Texas Regional Medical Center
San Antonio-based Methodist Healthcare System declared its intent to acquire South Texas Regional Medical Center, a 67-bed facility in Jourdanton, Texas.

9. Healthcare Trust of America to acquire Duke Realty's medical office portfolio in $2.7B deal
The Healthcare Trust of America, one of the nation's largest owners and operators of medical office buildings, entered into a definitive agreement to acquire all of Duke Realty's medical office building assets and platforms in an all-cash transaction worth $2.7 billion.

10. Mayo Clinic to shutter 2 home health facilities in Minnesota
Rochester, Minn.-based Mayo Clinic will close two home health facilities in Red Wing, Minn., and Albert Lea, Minn., by June 30.

11. HCA to add 7 hospitals, looks to M&A for more growth
Nashville, Tenn.-based HCA Holdings is looking to grow by acquiring more hospitals, officials said during a first quarter earnings call May 2.

12. Ascension ends sponsorship of Catholic Health in New York
St. Louis-based Ascension revealed plans to cease its corporate sponsorship of Buffalo, N.Y.-based Catholic Health.

13. TeamHealth acquires Synergy Emergency Physicians' clinical operations
Knoxville, Tenn.-based TeamHealth acquired the clinical operations of Toledo, Ohio-based Synergy Emergency Physicians.

19. East Texas Regional Medical Center searches for affiliation partner
Tyler-based East Texas Regional Medical Center Healthcare System hired national healthcare consulting firm Kaufman Hall to assist in its search for a strategic affiliate.

20. IU Health, Premier Healthcare complete merger
Bloomington, Ind.-based Premier Healthcare officially joined the Indiana University Health Southern Indiana Physicians physician group, also in Bloomington, effective May 1.

21. Hackensack Meridian Health, JFK Health sign definitive agreement to merge
The boards of trustees of Edison, N.J.-based JFK Health and Hackensack Meridian Health, also in Edison, signed a definitive agreement to merge the two health systems following five months of due diligence.

22. CareCredit announces agreement with Athletico Physical Therapy
CareCredit, a leading provider of promotional financing for healthcare, entered into multiyear agreement with Athletico Physical Therapy.

23. CHS divests 11 hospitals, adds 3 more to sale pipeline
Franklin, Tenn.-based Community Health Systems completed its sale of eight hospitals to Boston-based Steward Health Care and divested two hospitals to Clinton, Tenn.-based Curae Health May 1.

24. Quorum's acquisition of Texas hospital falls through
Brentwood, Tenn.-based Quorum Health Corp., and the Walker County Hospital District in Texas mutually agreed to terminate a deal proposed last year for Quorum to acquire Huntsville (Texas) Memorial Hospital.

25. Quest Diagnostics completed its acquisition of PeaceHealth
Quest Diagnostics completed its acquisition of PeaceHealth Laboratories' outreach laboratory services operation.

26. LabCorp completes acquisition of Mount Sinai clinical outreach laboratories
Burlington, N.C.-based Laboratory Corporation of America Holdings completed its acquisition of New York City-based Mount Sinai Health System's clinical outreach laboratories.

27. Baptist Memorial Health Care, Mississippi Baptist to merge
Baptist Memorial Health Care, a 17-hospital system in Memphis, Tenn., and Jackson-based Mississippi Baptist Health Systems finalized their proposed merger agreement, creating one of the largest nonprofit healthcare systems in the nation.

28. Mercyhealth to partner with Lurie Children's Hospital
Mercyhealth in Rockford, Ill., revealed plans to form a comprehensive partnership with the Ann & Robert H. Lurie Children's Hospital of Chicago.

29. CHS continues debt reduction effort with sale of Alabama hospital
Franklin, Tenn.-based Community Health Systems sold 125-bed Stringfellow Memorial Hospital in Anniston, Ala., to The Health Care Authority of the City of Anniston.

More articles on transactions and valuations:
This week's 3 most-read transactions and valuations stories
40 hospital transactions and partnerships in April
7 recent hospital transactions and partnerships

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