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Busy January kicks off 2023 M&A activity: 13 transactions to note

Here are 13 major hospital and healthcare merger and acquisition deals from January:

  1. Cape Girardeau, Mo.-based Southeast Health signed a letter of intent Jan. 31 to merge with Chesterfield, Mo.-based Mercy, a 42-hospital system.

  2. Aurora, Colo.-based UCHealth and Pueblo, Colo.-based Parkview Health System signed an agreement Jan. 24 to merge in mid-2023.

  3. Louisville, Ky.-based ScionHealth completed the acquisition of Dallas-based Cornerstone Healthcare on Jan. 23, adding 15 specialty hospitals and 3,000 providers to its network.

  4. Franklin, Tenn.-based Community Health Systems agreed to sell Plateau Medical Center in Oak Hill, W.Va., to Vandalia Health System, marking CHS' exit from West Virginia. CHS also sold Ronceverte-based Greenbrier Valley Medical Center in the state to Vanadalia's Charleston Area Medical Centre.

  5. Tacoma, Wash.-based MultiCare Health System completed the acquisition of Yakima Valley Memorial Hospital and its associated clinics, increasing MultiCare's footprint to 12 acute care hospitals and adding 2,700 employees.

  6. Morgantown, W.Va.-based WVU Medicine will acquire Welch (W.Va.) Community Hospital after McDowell County authorities approved the takeover. The financially struggling hospital had been a "drain on the county" and the state in recent years, West Virginia Gov. Jim Justice said Jan. 11.

  7. Concord, Calif.-based John Muir Health entered into a definitive agreement with Dallas-based Tenet Healthcare to acquire sole ownership of San Ramon (Calif.) Regional Medical Center. John Muir had held a 49 percent stake in the 123-bed hospital but will buy the remaining 51 percent held by Tenet for approximately $142.5 million.

  8. Gainesville-based Northeast Georgia Health System will acquire Habersham Medical Center in Demorest, Ga., in 2023 after a deal was finalized Jan. 10.

  9. University of Chicago Medicine and Altamonte Springs, Fla.-based AdventHealth closed their joint venture, leaving UChicago Medicine with controlling interest in four Illinois AdventHealth hospitals. The agreement took effect Jan. 1.

  10. HCA's Medical City Healthcare, based in Dallas, is in exclusive acquisition talks with Decatur, Texas-based Wise Health System.

  11. Butler (Pa.) Health System and Greensburg, Pa.-based Excela Health System finalized their merger plan, creating a five-hospital system serving approximately 750,000 patients that is projected to bring in $1 billion in revenue annually.

  12. LCMC Health finalized its $150 million purchase of three Louisiana hospitals from Nashville, Tenn.-based HCA Healthcare on Jan. 3, bringing its total to nine.

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