As the calendar flipped to the final month of 2024, several health systems closed M&A deals that were first announced earlier in the year:
1. Oakland, Calif.-based Kaiser Permanente's Risant Health completed its acquisition of Greensboro, N.C.-based Cone Health on Dec. 1. The acquisition of the five-hospital system was the second deal Risant closed in 2024. It closed its acquisition of Danville, Pa.-based Geisinger in March.
The transaction cements Risant as the sole corporate member of Cone Health. There was no purchase price or exchange of cash.
Risant's value-based care platform aims to transform healthcare delivery by shifting the focus from reactive, hospital-based care to proactive, preventive approaches. The first release of the value-based platform began rolling out to Geisinger during the third quarter.
2. Greenville, S.C.-based Prisma Health completed its acquisition of Maryville, Tenn.-based Blount Memorial Hospital on Dec. 1.
Jonathan Smith, CEO of the 304-bed Blount Memorial, said the partnership strengthens Blount's ability to "meet the needs of this growing community and those communities around us, as we combine our local knowledge with Prisma Health's depth of expertise and advanced technologies."
Blount Memorial is the first hospital to join Prisma Health outside of South Carolina.
3. Flint, Mich.-based Insight Health System completed its acquisition of Coldwater (Mich.) Regional Hospital from Toledo, Ohio-based ProMedica on Dec. 1.
The 87-bed hospital, now Insight Hospital and Medical Center Coldwater, employs 430 people and has a level 4 trauma designation.
Insight comprises six acute-care hospitals, six surgery centers, 28 clinics, 580 physicians, 4,200 employees and 10 unions.