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Hallmark Health draws interest from potential suitors after failed Partners HealthCare deal: 4 things to know

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Hallmark Health System in Medford, Mass., has drawn the interest of more than six potential partners, according to a Boston Globe report, which cites individuals close to the matter.

Here are four things to know about the interest.

1. Local potential suitors for Hallmark Health include Beth Israel Deaconess Medical Center and Steward Health Care System, both in Boston, as well as the parent company of Boston-based Tufts Medical Center, and Burlington, Mass.-based Lahey Health. Additionally, Dallas-based Tenet Healthcare, Ontario, Calif.-based Prime Healthcare Services and Los Angeles-based Prospect Medical Holdings are eyeing a deal with Hallmark, according to the Boston Globe.

2. The interest in Hallmark Health comes as the organization aims to partner with a bigger organization. Hallmark Health is struggling to compete against prestigious academic medical centers and sees a partnership as the best way to remain viable, according to the report.

3. Hallmark Health previously sought to merge with Boston-based Partners HealthCare. That potential deal fell through in December due to antitrust concerns.

4. Hallmark Health is the parent company of Melrose (Mass.)-based Wakefield Hospital and Lawrence Memorial Hospital in Medford.

 

More articles on transactions and partnerships:

Baptist Health South Florida acquires Northpoint Surgery Center: 4 things to know
Wheeling Hospital to acquire critical access hospital in Ohio
New York hospital mergers lead to higher prices, report finds

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