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43 hospital transactions and partnerships in September

 

The following healthcare mergers, acquisitions, partnerships and general transactions took place or were announced during the month of September.

1. Baptist Health, University of Arkansas form strategic alliance to grow GME, improve care coordination
Baptist Health and the University of Arkansas for Medical Sciences, both based in Little Rock, Ark., formed a strategic alliance to improve population health and offer more educational opportunities, while maintaining their independence.

2. Paladin to buy 2 Tenet hospitals for $170M
Dallas-based Tenet Healthcare revealed plans to sell its two Philadelphia hospitals to El Segundo, Calif.-based Paladin Healthcare for $170 million to help lighten its debt burden of $15 billion.

3. Northwell Health's Peconic Bay Medical Center plans to acquire former bank campus
Peconic Bay Medical Center in Riverhead, N.Y., part of New Hyde Park, N.Y.-based Northwell Health, revealed plans to acquire the former Suffolk County National Bank campus for an expansion.

4. Lourdes Health System, St. Francis Medical Center to join Cooper University Health Care
Under a consolidation plan, Camden, N.J.-based Cooper University Health Care will acquire Camden-based Lourdes Health System and Trenton, N.J.-based St. Francis Medical Center.

5. UPMC completes acquisition of PinnacleHealth
PinnacleHealth, a seven-hospital system in Harrisburg, Pa., joined Pittsburgh-based UPMC.

6. A new healthcare giant — Carolinas HealthCare System, UNC Health sign letter of intent to merge
Charlotte, N.C.-based Carolinas HealthCare System signed a letter of intent to merge with Chapel Hill, N.C.-based UNC Health Care, forming one of the nation's largest hospital chains.

7. Jefferson Healthcare, Discovery Behavioral Health move toward integrating mental health and primary care
Jefferson Healthcare and Discovery Behavioral Health, both in Port Townsend, Wash., moved closer to finalizing details regarding their proposed affiliation.

8. Advisory Board sells healthcare arm to Optum in $1.3B deal
The Advisory Board in Washington, D.C., will sell off its healthcare division to Minnetonka, Minn.-based UnitedHealth Group's Optum arm for $1.3 billion, including debts.

9. TriHealth, St. Elizabeth Healthcare to form laboratory joint venture
TriHealth, a five-hospital system in Cincinnati, and Edgewood, Ky.-based St. Elizabeth Healthcare signed a letter of intent in early August to embark on a joint venture outpatient laboratory.

10. Tenet to divest 8 additional US hospitals, 9 UK facilities
Outgoing Dallas-based Tenet Healthcare CEO Trevor Fetter revealed plans to divest eight hospitals in four U.S. markets, as well as nine facilities in the United Kingdom during the Baird 2017 Global Healthcare Conference.

11. Ochsner to operate Hancock Medical Center long term
Hancock Medical Center in Bay Saint Louis, Miss., entered into a long-term, capital lease agreement with New Orleans-based Ochsner Health System.

12. ProMedica affiliate to acquire Indiana dental benefit provider
Maumee, Ohio-based Paramount Health, an affiliate of Toledo, Ohio-based ProMedica, signed an agreement Sept. 15 to acquire Health Resources, a dental benefit provider in Evansville, Ind.

13. Kaiser Permanente, Target to open 31 retail clinics in southern California
Oakland, Calif.-based Kaiser Permanente revealed plans to launch 31 retail clinics in Target stores across southern California.

14. St. Luke's Health Network, Blue Mountain Health to form 9-hospital system
Blue Mountain Health System, a two-hospital system in Lehighton, Pa., revealed its intent to join St. Luke's University Health Network, a seven-hospital system in Bethlehem, Pa., Sept. 13.

15. HealthPartners to acquire Hutchinson Health
Hutchinson (Minn.) Health's board of directors declared their intent Sept. 13 for the organization to affiliate with Bloomington, Minn.-based HealthPartners.

16. Jefferson Health completes Kennedy Health merger
Officials at Philadelphia-based Jefferson Health announced the completion of the health system's merger with Kennedy Health, a three-hospital system in Voorhees, N.J., Sept. 14. 

17. CVS to buy 6 ProMedica pharmacies, close 5
Woonsocket, R.I.-based CVS Health will acquire six of ProMedica's outpatient pharmacies and  plans to close five of them.

18. Ardent Health, U of Texas joint venture to acquire proposed 10-hospital system
A joint venture between Nashville, Tenn.-based Ardent Health Services and Austin-based The University of Texas System will acquire Tyler-based East Texas Medical Center Regional Healthcare System, officials announced Sept. 13.

19. RCCH HealthCare, U of Washington Medicine in talks to partner with Washington health system
Kennewick, Wash.-based Trios Health is in talks to partner with Brentwood, Tenn.-based RCCH HealthCare Partners and Seattle-based University of Washington Medicine.

20. New York hospital to merge with University of Vermont Health Network affiliate
Ticonderoga, N.Y.-based Moses-Ludington Hospital will reportedly merge with Elizabethtown (N.Y.) Community Hospital, an affiliate of Burlington-based The University of Vermont Health Network.

21. Navicent Health, Emory Healthcare form surgical partnership
Macon, Ga.-based Navicent Health and Atlanta-based Emory Healthcare embarked on a collaborative surgical partnership Sept. 13.

22. Quorum finalizes deal to sell Illinois hospital
Brentwood, Tenn.-based Quorum Health signed a definitive agreement Sept. 12 to sell Vista Medical Center West, a 70-bed facility in Waukegan, Ill., to New York City-based US HealthVest.

23. Yale New Haven, Connecticut Children's Medical Center table partnership talks
Yale New Haven (Conn.) Children's Hospital and Hartford-based Connecticut Children's Medical Center tabled talks to combine operations Sept. 11.

24. Quorum Health signs definitive agreement to divest Alabama hospital
Quorum Health signed a definitive agreement Sept. 11 to sell L.V. Stabler Memorial Hospital, a 72-bed facility in Greenville, Ala., to the Health Care Authority of the City of Greenville – L.V. Stabler Hospital, a public corporation.

25. OSF HealthCare to pay $185M for 2 Presence Health facilities in Illinois
Peoria, Ill.-based OSF HealthCare will purchase two of Chicago-based Presence Health's facilities in southern Illinois for a combined $185 million.

26. UPMC expands international operations with 50% stake in Rome hospital
UPMC expanded its Italian operations by acquiring a 50 percent ownership stake in Salvator Mundi International Hospital, a 75-bed private hospital in Rome.

27. Self Regional Healthcare, Edgefield County Hospital to explore further alignment
The boards of Edgefield (S.C.) County Hospital and Greenwood, S.C.-based Self Regional Healthcare agreed to further the institutions' existing two-year partnership through an affiliation Sept. 19.

28. Sacred Heart Hospital to merge with St. Luke's University Health Network
Allentown, Pa.-based Sacred Heart HealthCare System, parent company of Allentown-based Sacred Heart Hospital, revealed plans to merge with St. Luke's University Health Network, Sept. 19.

29. Franklin Medical Center in North Carolina to reopen as freestanding ED in 2018
Louisburg, N.C.-based Franklin Medical Center will reopen as a freestanding emergency department in 2018 after the Franklin County Board of Commissioners reached a lease agreement with Brentwood, Tenn.-based Duke LifePoint.

30. Highlands Health System to merge with Appalachian Regional Healthcare
Prestonsburg, Ky.-based Highlands Health System and Lexington, Ky.-based Appalachian Regional Healthcare signed a letter of intent to merge.

31. CHI, Dignity Health reportedly in final stages of due diligence for proposed affiliation
Englewood, Colo.-based Catholic Health Initiatives officials said the health system is conducting the final stages of the due diligence process to align with San Francisco-based Dignity Health.

32. FTC clears $4.38B Walgreens, Rite Aid deal
The Federal Trade Commission approved the amended merger agreement between Deerfield, Ill.-based Walgreens Boots Alliance and Camp Hill, Pa.-based Rite Aid Sept. 19 after nearly two years of negotiations.

33. Missouri hospital lands last-minute buyer, avoids closure
Fulton (Mo.) Medical Center will no longer close after the facility scored a buyer less than one week before it was slated to shut down.

34. Care New England may not finalize sale of Memorial Hospital until 'well into 2018'
Providence, R.I.-based Care New England officials said a complicated negotiation process has extended the timeline of Pawtucket, R.I.-based Memorial Hospital's sale to Ontario, Calif.-based Prime Healthcare Foundation.

35. MidMichigan Health, West Branch Regional Medical Center to affiliate
Midland-based MidMichigan Health entered into an affiliation with West Branch (Mich.) Regional Medical Center Sept. 28.

36. Texas A&M buys 18-story office building near Texas Medical Center for engineering, medical school partnership
College Station-based Texas A&M University System board of regents approved the purchase of an 18-story office building across from Houston-based Texas Medical Center Sept. 27.

37. Louisiana women's hospital, cancer center partner to create cancer pavilion
Woman's Hospital and Mary Bird Perkins Cancer Center, both in Baton Rouge, La., are teaming up to make cancer care more accessible to women across the state.

38. Massena Memorial Hospital affiliation talks on hold
Massena (N.Y.) Memorial Hospital CEO Robert G. Wolleben said affiliation talks with two health systems were put on hold.

39. Meridian Behavioral Health Systems completes purchase of West Virginia hospital
Brentwood, Tenn.-based Meridian Behavioral Health Systems completed its acquisition of Charleston, W.Va.-based HHA, parent company of Charleston-based Highland Hospital, Sept. 27.

40. Cortland Regional Medical Center, Guthrie to explore affiliation
Cortland (N.Y.) Regional Medical Center, a 162-bed hospital, and Guthrie, a four-hospital system in Sayre, Pa., signed a nonbinding letter of intent to explore a definitive affiliation Sept. 27.

41. HealthSouth, University Medical Center to build 40-bed Texas hospital through joint venture
Birmingham, Ala.-based HealthSouth and Lubbock, Texas-based UMC Health System entered into a joint venture agreement Sept. 25.

42. Ochsner to continue management of St. Bernard Parish Hospital
Ochsner Health System signed an extended agreement allowing the health system to continue management of Chalmette, La.-based St. Bernard Parish Hospital.

43. Court approves sale of bankrupt North Carolina hospital
A judge has allowed Morehead Memorial Hospital, a 108-bed nonprofit hospital in Eden, N.C., that filed for Chapter 11 bankruptcy in July, to begin selling off its assets.

More articles on transactions and valuations:
10 recent hospital transactions and partnerships
The 3 most-read transactions and valuations stories this week
13 recent hospital transactions and partnerships

 

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