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55 hospital transactions and partnerships in July

The following healthcare mergers, acquisitions, partnerships and general transactions took place or were announced in July.

1. LabCorp to purchase Chiltern for roughly $1.2B: 4 things to know
Burlington, N.C.-based diagnostics company LabCorp will purchase Wilmington, N.C.-based Chiltern for about $1.2 billion in cash.

2. Methodist Hospital eyes formal agreement with Deaconess Health System
Henderson, Ky.-based Methodist Hospital's board of directors agreed July 27 to pursue a long-term affiliation with Deaconess Health System, a six-hospital system in Evansville, Ind.

3. Northwell Health to affiliate with John T. Mather Memorial Hospital
Port Jefferson, N.Y.-based John T. Mather Memorial Hospital's board of directors signed a letter of intent July 28 to join New Hyde Park, N.Y.-based Northwell Health.

4. 2 LifePoint hospitals to finalize merger by end of week
Memorial Hospital of Martinsville (Va.) & Henry County, a 223-bed facility, and 250-bed Danville Regional (Va.) Medical Center merged into SOVAH Health the week of July 24.

5. DuPage Medical Group adds 2 physicians through recent acquisition
Downers Grove, Ill.-based DuPage Medical Group acquired Glenwood Medical Corp., an obstetrics and gynecology practice in Orland Park, Ill.

6. Boston Children's Hospital collaborates with Cleveland Clinic on pediatric heart care
Boston Children's Hospital and Cleveland Clinic partnered to offer complex pediatric heart services through Cleveland Clinic's national cardiovascular network, which contracts directly with employers.

7. Cleveland Clinic, CVS expand partnership
Cleveland Clinic and Woonsocket, R.I.-based CVS Health expanded their eight-year clinical affiliation July 25 to better coordinate patient care and services for patients in northeast Ohio and Florida.

8. Mount Carmel, Acadia partner on $26M behavioral health hospital
Columbus-based Mount Carmel Health System and Franklin, Tenn.-based Acadia Healthcare embarked on a joint venture July 24 to develop a $26 million, 80-bed inpatient behavioral health hospital in Columbus.

9. CHI St. Luke's Health-Memorial eyes management agreement with Trinity Memorial Hospital District
Lufkin, Texas-based CHI St. Luke's Health-Memorial officials are pursuing a management service agreement with the Trinity (Texas) Memorial Hospital District board and its outpatient clinic.

10. Missouri hospital searches for buyer as closure looms
Fulton (Mo.) Medical Center is slated to close by Sept. 22, but officials hope to keep the facility open by securing a buyer.

11. 2 New York physician groups create more than 2,000-member alliance
Oceanside, N.Y.-based New York Medical Partners and Commack, N.Y.-based Independent Physician Association of Nassau/Suffolk Counties formed a strategic alliance July 21.

12. PinnacleHealth, Hanover HealthCare Plus ink definitive agreement for strategic partnership
The boards of directors of Harrisburg, Pa.-based PinnacleHealth and Hanover (Pa.) HealthCare Plus signed a definitive agreement July 24 to form a strategic partnership

13. HCA acquires second hospital from CHS in 2 weeks
Nashville, Tenn.-based HCA Healthcare agreed to acquire Highlands Regional Medical Center, a 126-bed hospital in Sebring, Fla., from subsidiaries of Franklin, Tenn.-based Community Health Systems July 21.

14. UPMC, Butler Health ink OB-GYN joint venture agreement
Pittsburgh-based UPMC and Butler (Pa.) Health System entered into a joint venture July 21 to acquire Advanced OB/GYN Associates, a five-physician practice also in Butler.

15. Alaska assembly OKs motion seeking additional hospital affiliation proposals for Sitka Community Hospital
The City and Borough Assembly of Sitka, Alaska, voted to allow interested hospitals to submit proposals to affiliate with Sitka (Alaska) Community Hospital during a special meeting July 18.

16. PinnacleHealth to affiliate with Pennsylvania urgent care center
PinnacleHealth inked a deal to affiliate with AllBetterCare Urgent Care Center, which maintains locations in Carlisle, Harrisburg and Mechanicsburg, Pa.

17. Owensboro Health joins University of Kentucky cancer research network
Owensboro (Ky.) Health became the seventh hospital to join the Lexington-based University of Kentucky Markey Cancer Center Research Network.

18. MU Health Care to divest 35% stake in financially struggling Fulton Medical Center
Columbia, Mo.-based MU Health Care plans to sell its 35 percent minority interest in Fulton (Mo.) Medical Center.

19. Navicent Health to temporarily manage bankrupt Georgia hospital
Macon, Ga.-based Navicent Health signed a temporary agreement to manage Oconee Regional Medical Center, a 140-bed hospital in Milledgeville, Ga.

20. Quest Diagnostics completes acquisition of 2 Texas laboratories
Madison, N.J.-based Quest Diagnostics completed its acquisition of Med Fusion and ClearPoint Diagnostic Laboratories, both laboratory operations in Lewisville, Texas.

21. Indian River Medical Center selects Juniper Advisory to facilitate a future partnership
Vero Beach, Fla.-based Indian River Medical Center selected Chicago-based Juniper Advisory, an investment banking firm, to help facilitate a new partnership by the end of the year.

22. PinnacleHealth paid at least $66M for 2 former CHS hospitals
County records indicate PinnacleHealth paid at least $66 million for two of the four hospitals it purchased from Franklin, Tenn.-based Community Health Systems June 30.

23. Lawrence Memorial Hospital acquires Reed Medical Group
Lawrence (Kan.) Memorial Hospital inked a deal to acquire Lawrence-based The Reed Medical Group July 1.

24. Rutgers-Care Plus NJ joint venture to take over management of Bergen Regional
The Bergen County Freeholder board unanimously voted July 12 to select Paramus, N.J.-based Care Plus Bergen to operate Bergen Regional Medical Center, a 1,70-bed hospital also in Paramus.

25. Vanderbilt University Medical Center to run 14 Walgreens clinics
Nashville, Tenn.-based Vanderbilt University Medical Center and Deerfield, Ill.-based Walgreens entered into an agreement allowing a VUMC subsidiary to operate 14 Walgreens retail clinics across the state.

26. Lahey, Beth Israel and others ink merger agreement to create 13-hospital system
Five Massachusetts hospitals and health systems signed a definitive agreement to merge July 13.

27. Hotel, restaurant owners throw hat in the ring to acquire Alaska hospital
Rob and Deborah Petrie, who own a hotel and restaurant in Sitka, Alaska, expressed interest in purchasing Sitka (Alaska) Community Hospital.

28. Good Shepherd Medical Group acquires Oregon hospital
Hermiston, Ore.-based Good Shepherd Medical Group acquired Gifford Medical Center, also in Hermiston, June 30.

29. University of Maryland Medical Center to affiliate with Dimensions Health
Baltimore-based University of Maryland Medical Center's board of directors approved a proposal to enter into an affiliation agreement with Dimensions Health, a Maryland system serving residents of Prince George's County.

30. SSM Health, ministry organization to explore sponsorship transfer of 2 Wisconsin health facilities
The Congregation of Sisters of St. Agnes signed a letter of intent to transfer sponsorship of Agnesian HealthCare, a three-hospital system in Fond du Lac, Wis., and Monroe (Wis.) Clinic to St. Louis-based SSM Health.

31. CVS' MinuteClinic moves into workplace health with latest partnership
MinuteClinic, the retail medical clinic chain belonging to Woonsocket, R.I.-based CVS Health, joined the Alere eScreen Occupational Health Network to provide workplace health testing.

32. HCA to acquire Texas hospital from CHS
Nashville, Tenn.-based HCA Healthcare entered into an agreement to purchase 103-bed Weatherford (Texas) Regional Medical Center from subsidiaries of Franklin, Tenn.-based Community Health Systems.

33. Quorum Health to divest Alabama hospital
Brentwood, Tenn.-based Quorum Health signed a letter of intent to sell L.V. Stabler Memorial Hospital, a 72-bed facility in Greenville, Ala., to the City of Greenville.

34. UW Health, UnityPoint Health-Meriter finalize operating agreement
Madison-based UW Health and UnityPoint Health-Meriter, also in Madison, finalized their joint operating agreement July 1.

35. Penn State Health completes purchase of 120-member physician group
Penn State Health, the parent company of Penn State Health Milton S. Hershey (Pa.) Medical Center, completed its acquisition of Lancaster, Pa.-based Physicians' Alliance.

36. Memorial Hermann expands network with addition of 2 microhospitals
Houston-based Memorial Hermann added two microhospitals to its network through a joint venture with The Woodlands, Texas-based Emerus.

37. Kindred sells skilled nursing business for $700M
Louisville, Ky.-based Kindred Healthcare signed a definitive agreement to sell its skilled nursing business to BM Eagle Holdings, a joint venture company led by BlueMountain Capital Management affiliates, for $700 million in cash.

38. Envision Physician Services acquires Atlanta emergency medicine group
Envision Physician Services, a division of Greenwood, Colo.-based Envision Healthcare Corp., acquired a 40-physician emergency medicine group practice based in Atlanta: Northside Emergency Associates.

39. Quorum Health sells Georgia hospital
Brentwood, Tenn.-based Quorum Health completed the sale of 231-bed Trinity Hospital of Augusta (Ga.) to The Richmond County Hospital Authority June 30.

40. CHS divests 9 hospitals
Franklin, Tenn.-based Community Health Systems completed its sale of nine hospitals June 30.

41. Envision buys 340-provider practice in Milwaukee
Envision Physician Services, a division of Greenwood, Colo.-based Envision Healthcare, bought a 340-provider multispecialty physician group based in Milwaukee June 5.

42. Prime Healthcare completes purchase of Texas hospital
Prime Healthcare Foundation, a 12-hospital system in Ontario, Calif., completed its acquisition of 297-bed Mission (Texas) Regional Medical Center July 3.

43. Tomball Regional integrates into HCA Healthcare
Tomball (Texas) Regional Medical Center integrated operations with Houston-based HCA Healthcare's Gulf Coast Division July 1.

44. Mercy Health Network to receive affiliation proposal from Iowa hospital
The Guttenberg (Iowa) Municipal Hospital board will begin drafting a management services agreement to align with Des Moines, Iowa-based Mercy Health Network.

45. Kern Medical Center, USC partner for epilepsy program, center
Kern Medical Center, a 222-bed hospital in Bakersfield, Calif., is partnering with the USC Neurorestoration Center — part of Los Angeles-based Keck School of Medicine of USC — to create an epilepsy center in Bakersfield.

46. Wake Forest Baptist closes on 30-year lease of Wilkes Regional Medical Center
Winston-Salem, N.C.-based Wake Forest Baptist Medical Center officials closed on a 30-year lease of North Wilkesboro, N.C.-based Wilkes Regional Medical Center July 1.

47. Webster County Memorial, Davis Health to explore affiliation
Webster Springs, W.Va.-based Webster County Memorial Hospital and Elkins, W.Va.-based Davis Health System signed a letter of intent to discuss a possible affiliation.

48. Hays Medical Center becomes sole owner of Kansas health center
Hays (Kan.) Medical Center, part of Kansas City-based The University of Kansas Health System, became the sole owner of St. Rose Health Center in Great Bend, Kansas, July 1.

49. Sitka Community Hospital nixes proposed SEARHC merger
The Sitka (Alaska) Community Hospital board cancelled its letter of intent to combine operations with Juneau-based SouthEast Alaska Regional Health Consortium June 22.

50. Billionaire Dr. Patrick Soon-Shiong's company acquires majority stake in Integrity Healthcare
Patrick Soon-Shiong, MD, and his company NantWorks, acquired a majority stake in Integrity Healthcare.

51. Navicent outbids Prime to acquire bankrupt Georgia hospital
Macon, Ga.-based Navicent Health will acquire Milledgeville, Ga.-based Oconee Regional Medical Center, which filed for Chapter 11 bankruptcy in May.

52. Marshfield Clinic Health System completes purchase of Ascension hospital
Marshfield (Wis.) Clinic Health System completed its asset purchase of Saint Joseph's Hospital, also in Marshfield, July 1.

53. Franciscan Alliance partners with Midwest Orthopaedics at Rush for orthopedic care
Chicago-based Midwest Orthopaedics at Rush entered into an agreement with Mishawaka, Ind.-based Franciscan Alliance June 29 to co-manage the Franciscan Health Munster (Ind.) Health Center for Joint Surgery.

54. Kaiser Permanente subsidiary assumes operations at Hawaii hospitals
Wailuku-based Maui Health System, a subsidiary of Oakland, Calif.-based Kaiser Foundation Hospitals, assumed the management of community hospitals and associated clinics from the state of Hawaii July 1.

55. Christus Trinity Mother Frances Health acquires Magnolia Health–Physicians of East Texas
Tyler, Texas-based Christus Trinity Mother Frances Health System acquired Magnolia Health Systems–Physicians of East Texas July 1.

 

More articles on transactions and valuations:
Cleveland Clinic, CVS expand partnership
Civic organization sues FEMA over plan for shuttered New York hospital
Mount Carmel, Acadia partner on $26M behavioral health hospital

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