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Cain Brothers to Advise Penn State Hershey, PinnacleHealth Deal

Executives at Penn State Milton S. Hershey (Pa.) Medical Center and PinnacleHealth in Harrisburg, Pa., have selected Cain Brothers to advise their pending affiliation.

Terms of the contract were not disclosed. In November, Penn State Hershey and PinnacleHealth announced they were expanding their "strategic relationship" and would look into an affiliation. However, the organizations have not disclosed specific terms of the transaction.

Cain Brothers, an investment banking firm based in New York City, has been a financial adviser for several other recent hospital transactions, including deals between UnityPoint Health in West Des Moines, Iowa, and Meriter Health Services in Madison, Wis., and Scottsdale (Ariz.) Healthcare and John C. Lincoln Health Network in Phoenix.

More Articles on Hospital Transactions:
Hospital M&A Volume Declines in Q4 2013
HCA to Purchase Capella's Grandview Medical Center
Daughters of Charity Health System Pursues Sale

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