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9 recent healthcare partnerships and transactions

The following healthcare mergers, acquisitions, partnerships and general transactions took place or were announced during the week of June 4.

1. Denver entrepreneur to buy bankrupt California hospital: 5 things to know
Local residents voted to sell bankrupt Surprise Valley Hospital in Cedarville, Calif., to a 34-year-old entrepreneur who runs two labs in Denver.

2. ProMedica begins acquisition process for HCR ManorCare: 4 things to know
Toledo, Ohio-based ProMedica has reportedly begun the process to acquire Toledo-based HCR ManorCare, the second-largest post-acute and long-term care provider in the U.S.

3. Yale New Haven Health's 383-bed hospital explores integration plan
Bridgeport (Conn.) Hospital, part of Yale New Haven (Conn.) Health, is in talks to acquire Milford (Conn.) Hospital, Yale New Haven Health announced June 6.

4. UnityPoint affiliates with 18-bed Illinois hospital
West Des Moines, Iowa-based UnityPoint Health announced a formal affiliation with Memorial Hospital, an 18-bed critical access hospital in Carthage, Ill.

5. U of Iowa Health Care asks board for $7.5M to exit alliance, dissolve ACO
After committing millions of dollars toward the creation of a healthcare alliance, Iowa City-based University of Iowa Health Care informed its board of regents June 6 it needs $7.5 million "to meet cash flow requirements to facilitate discontinuance."

6. Maine hospital terminates management agreement with Quorum
Brentwood, Tenn.-based Quorum Health Resources will no longer manage Calais (Maine) Regional Hospital.

7. Venture fund buys DaVita's primary care business for $100M
Venture firm New Enterprise Associates acquired DaVita's Paladina Health — the company's primary care business that operates 53 clinics across 10 states — for about $100 million.

8. Virtua Health to purchase 2-hospital New Jersey system
Marlton, N.J.-based Virtua Health signed a definitive agreement to acquire Lourdes Health System from Carbondale, Pa.-based Maxis Health, a subsidiary of Livonia, Mich.-based Trinity Health, the organizations announced June 5.

9. CHS continues hospital sell-off spree with deals in Louisiana, Tennessee
Franklin, Tenn.-based Community Health Systems is taking many steps, including divesting hospitals, to improve its finances and reduce its heavy debt load.

More articles on transactions and valuations:
3 recent healthcare partnerships and transactions
Reshaping healthcare M&A: 4 insights
Healthcare antitrust enforcement remains a top priority for DOJ

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