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63 recent hospital transactions and partnerships in May

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

1. CHS to divest 5 hospitals to Reading Health System
West Reading, Pa.-based Reading Health System entered into an asset purchase agreement May 30 to acquire five hospitals owned and operated by Franklin, Tenn.-based Community Health Systems.

2. CoxHealth, Citizens Memorial Hospital call off affiliation plans
Donald Babb, CEO and executive director of Bolivar, Mo.-based Citizens Memorial Hospital and Citizens Memorial Health Care Foundation, said the hospital terminated its plans to affiliate with Springfield, Mo.-based CoxHealth May 26. 

3. Mayo Clinic and Baxter to collaborate on R&D
Rochester, Minn.-based Mayo Clinic and Deerfield, Ill.-based Baxter International, a global medical product company, established a research and development collaboration aimed at advancing innovation across various therapeutic areas. 

4. McLaren Greater Health forms pediatric care partnership with Spectrum Health children's hospital
McLaren (Mich.) Greater Health signed an agreement to participate in the Grand Rapids, Mich.-based Spectrum Health Helen DeVos Children's Hospital's Partners in Children's Health network.

5. Southeast Alabama Medical Center affiliate to undergo change in management
Eufaula, Ala.-based Medical Center Barbour, the 74-bed affiliate of Dothan-based Southeast Alabama Medical Center, signed a management agreement with Alliant Management Services in Louisville, Ky.

6. 3 Minnesota hospitals ink deal to join forces
Officials from Rice Memorial Hospital and Affiliated Community Medical Centers Health — both in Willmar, Minn. — voted to officially sign a letter of intent to affiliate with St. Cloud, Minn.-based CentraCare Health.  

7. Cone Health signs letter of intent to partner with Randolph Health
Randolph Health, 145-bed facility in Asheboro, N.C., and Greensboro, N.C.-based Cone Health signed a nonbinding letter of agreement May 24 to discuss a possible affiliation.

8. Prime Healthcare Foundation to acquire Mission Regional Medical Center
Ontario, Calif.-based Prime Healthcare Foundation signed a definitive agreement to acquire 297-bed Mission (Texas) Regional Medical Center.  

9. Florida Hospital reportedly in talks to acquire Sanford Burnham
Orlando-based Florida Hospital is discussing the possibility of acquiring and rebranding the Sanford Burnham Prebys Medical Discovery Institute at Lake Nona, also in Orlando.

10. Global Medical REIT to acquire Texas specialty hospital and rehabilitation center for $26M
Global Medical REIT, a Bethesda, Md.-based company engaged in the acquisition and leasing of healthcare facilities, entered into a purchasing agreement to acquire the facility housing Carrus Specialty Hospital and the Carrus Rehabilitation Hospital — both in Sherman, Texas — for $26 million.

11. Cleveland Clinic to acquire Union Hospital
Union Hospital, a more than 100-bed nonprofit facility in Dover, Ohio, signed a letter of intent to join the Cleveland Clinic health system.  

12. Envision acquires 70-member Georgia physician group practice
Envision Physician Services, the physician services arm of Greenwood Village, Colo.-based Envision Healthcare Corp., acquired Gwinnett Emergency Specialists, a 70-member emergency medicine physician group in Lawrenceville, Ga.

13. Meadowview Regional Medical Center named Duke LifePoint Quality Affiliate
Meadowview Regional Medical Center, 100-bed acute care facility in Maysville, Ky., was named a Duke LifePoint Quality Affiliate May 22.

14. Saint Luke's Cancer Institute, Washington University of St. Louis medical school partner to improve access to clinical trials
Saint Luke's Cancer Institute, part of Kansas City, Mo.-based Saint Luke's Health System, became a clinical trials affiliate of the Washington University School of Medicine in St. Louis June 1.

15. CHS rejects physicians' $2.4B offer for Lutheran Health Network
Franklin, Tenn.-based Community Health Systems refused a local physician group's offer to purchase Lutheran Health Network, an eight-hospital system in Fort Wayne, Ind., May 22. The for-profit hospital operator said the group "failed to satisfy any reasonable criteria of a legitimate offer."

16. Kansas City healthcare organizations collaborate for health sciences district
Several leaders of healthcare organizations on Hospital Hill in Kansas City, Mo., signed a memo to launch a health sciences district, which would enable them to join forces on research, recruitment and security.

17. Erlanger in talks to acquire or affiliate with 25-bed Murphy Medical Center
Erlanger Health System, a five-hospital system in Chattanooga, Tenn., is in talks to partner with 25-bed Murphy (N.C.) Medical Center.

18. 3rd hospital joins Beth Israel Deaconess, Lahey Health merger
Newburyport, Mass.-based Anna Jaques Hospital is the third health system to join the proposed merger between Boston-based Beth Israel Deaconess Medical Center and Burlington, Mass.-based Lahey Health, bringing the total number of health systems interested in merging up to five.

19. Quorum to divest 2 hospitals in Tennessee
Brentwood, Tenn.-based Quorum Health Corp., signed a definitive agreement May 15 to sell two hospitals in Tennessee.

20. Steward Health Care to acquire IASIS Healthcare
Boston-based Steward Health Care signed a definitive agreement to acquire Franklin, Tenn.-based IASIS Healthcare. 

21. Mount Auburn joins Beth Israel Deaconess, Lahey merger: 3 things to know
Cambridge, Mass.-based Mount Auburn Hospital joined a proposed merger between Boston-based Beth Israel Deaconess Medical Center and Burlington, Mass.-based Lahey Health.

22. Quorum Health seeks to sell 6 more hospitals
Brentwood, Tenn.-based Quorum Health, the 35-hospital spinoff of Franklin, Tenn.-based Community Health Systems, plans to sell six hospitals to restructure its portfolio to improve financial performance.  

23. Accumen partners with SSM Health hospital to improve quality of care, patient outcomes
SSM Health Saint Louis University Hospital partnered with Accumen on a multiyear agreement to implement a comprehensive patient blood management program.  

24. Geisinger Health System, Jersey Shore Hospital sign integration agreement
Danville, Pa.-based Geisinger Health System and 25-bed Jersey Shore (Pa.) Hospital and Foundation signed an agreement integrating Jersey Shore's facilities into Geisinger.

25. HealthEast, Fairview Health Services receive final OK to merge
The respective boards of directors of HealthEast, a four-hospital system in St. Paul, Minn., and Fairview Health Services, a seven-hospital system in Minneapolis, approved the organizations' plans to merge, effective June 1. The merger created one of the largest hospital networks in Minnesota.  

26. Hackensack Meridian, St. Joseph's Healthcare to partner on home health, hospice services
Hackensack Meridian Health, a 13-hospital system in Edison, N.J., and Paterson, N.J.-based St. Joseph's Healthcare revealed plans to form a jointly owned home health services agency and a hospice services agency.  

27. Yale New Haven, Day Kimball Healthcare partner to improve clinical care
Yale New Haven (Conn.) Health System and Putnam, Conn.-based Day Kimball Healthcare inked an agreement to become community partners and enhance the breadth of clinical care services available at Day Kimball.

28. Wake Forest Baptist partners with Northern Hospital of Surry County on cardiac rehabilitation care
Winston-Salem, N.C.-based Wake Forest Baptist Medical Center and Mount Airy, N.C.-based Northern Hospital of Surry County partnered to provide residents with better access to cardiac rehabilitation services.  

29. After 4-year battle, Cottage Health and Sansum Clinic call off merger
After a four-year fight to gain federal regulatory approval for their proposed merger, Santa Barbara, Calif.-based Cottage Health and Sansum Clinic, also in Santa Barbara, called off the deal.

30. KentuckyOne to spin off 4 hospitals, 4 ambulatory centers
Louisville-based KentuckyOne Health is seeking new owners and operators for more than 10 entities. The changes will ultimately leave KentuckyOne as a seven-hospital system.

31. Memorial Hermann adds 2 microhospitals via new joint venture with Emerus
Memorial Hermann Health System, a 16-hospital system in Houston, entered into a joint venture agreement with The Woodland, Texas-based Emerus Holdings, one the nation's largest microhospital operators.

32. Cedars-Sinai to affiliate with Torrance Memorial Medical Center
Cedars-Sinai Medical Center, an 886-bed academic medical center in Los Angeles, revealed plans to affiliate with 446-bed Torrance (Calif.) Memorial Medical Center.  

33. Molina Healthcare affiliates with 130-member New York physician practice
Syracuse, N.Y.-based FamilyCare Medical Group affiliated with two subsidiaries of Long Beach, Calif.-based Molina Healthcare.  

34. Healthcare Trust of America closes on $150M portfolio for medical office buildings in Arizona, California
The Healthcare Trust of America, which owns and operates a number of medical office buildings across the U.S., closed on a $150 million agreement to purchase a medical office building portfolio.  

35. Houston Methodist, Evolent Health partner to improve health of Medicare patients
Houston Methodist and Evolent Health, a healthcare technology provider in Arlington, Va., partnered to develop and execute a value-based care strategy to improve services for Medicare patients.

36. Prime Healthcare Foundation's $15M acquisition of CHS hospital collapses
Ontario, Calif.-based Prime Healthcare Foundation's $15 million acquisition agreement to purchase Salem, N.J.-based The Memorial Hospital of Salem County fell through just as the deal received state regulatory approval.

37. DaVita acquires Purity Dialysis
DaVita Kidney Care, a division of Denver-based DaVita, declared its decision to acquire Delafield, Wis.-based Purity Dialysis.

38. Tulane Medical Center acquires Lakeview Regional
New Orleans-based Tulane Medical Center acquired Covington, La.-based Lakeview Regional Medical Center. The transaction was effective May 7.

39. Columbus Regional signs letter of intent to partner with Piedmont Healthcare
Columbus (Ga.) Regional Health and Piedmont Healthcare, a seven-hospital system in Atlanta, signed a letter of intent to enter into exclusive negotiations to form a potential partnership.

40. 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 formed a joint venture company to acquire 378-bed St. Francis Health in Topeka, Kan.

41. 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.

42. 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.

43. 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.

44. 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 was effective May 1.

45. 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.

46. 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.  

47. 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.

48. 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.

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

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

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

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

53. 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.

54. 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, May 1.

55. 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.

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

57. 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.

58. 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.

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

60. 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.

61. 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.

62. 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.

63. 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:
13 recent hospital transactions and partnerships
Mercyhealth objects to SwedishAmerican's plans for NICU in Illinois
Nearly 200 Lutheran physicians walk out of emergency meeting with CHS

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