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Hospital and Health System Transactions (April 2013)

A letter of intent to affiliate Medford, Ore.- based Asante and Ashland (Ore.) Community Hospital was unanimously approved by the Ashland City Council, paving the way for a planned merger.

Bamberg County officials in South Carolina are helping to appraise the assets of the shuttered and bankrupt Bamberg County Hospital in preparation for a proposed buyout by Nashville, Tenn.- based Hospital Corporation of America.

Providence, R.I.-based Care New England Health System and Memorial Hospital of Rhode Island in Pawtucket filed their affiliation agreement and other requisite application materials with the Rhode Island Department of Health, the state attorney general’s office and the Federal Trade Commission.

Central Maine HealthCare based in Lewiston has requested a suspension, up to 12 months, on its application to acquire Brunswick, Mainebased Parkview Adventist Medical Center, citing its need to complete a feasibility study of Parkview’s services.

Clifton-Fine Hospital in Star Lake, N.Y., announced it would affiliate with Samaritan Medical Center in Watertown, N.Y.

Community Health Network and Wishard- Eskenazi Health, both headquartered in Indianapolis, announced they have entered into a partnership agreement with approval from the Health & Hospital Corporation of Marion County.

Franklin, Tenn.-based Community Health Systems announced its fourth-quarter profit more than doubled to $62.6 million, and company executives said they plan to expand CHS even further this year with “three to four targeted hospital acquisitions.”

The 11th Circuit U.S. Court of Appeals has ruled Naples, Fla.-based Health Management Associates did not owe restitution to Trinity Hospital of Augusta (Ga.), formerly St. Joseph Hospital, for declining to buy the hospital’s assets after publicly announcing it would in 2005.

Health Management Associates gained approval from the St. Petersburg, Fla., city council to operate Bayfront Medical Center, part of Health Management’s plan to purchase an 80 percent interest in Bayfront Health System.

Kingston, N.Y.-based healthcare system HealthAlliance of the Hudson Valley announced the Benedictine Sisters who have controlled Benedictine Hospital, also in Kingston, have agreed to drop the hospital’s Catholic affiliation as part of a consolidation effort.

Pittsburgh-based health insurer Highmark moved closer to creating its regional health system after the Orphans’ Court of Allegheny County approved Highmark’s affiliations with West Penn Allegheny Health System in Pittsburgh and Jefferson Regional Medical Center in Jefferson Hills, Pa.

Chesterfield, Mo.-based health system Mercy announced Jefferson Regional Medical Center in Festus, Mo., agreed to be acquired in a unanimous vote by the board of directors.

New River Medical Center in Monticello, Minn., announced its board of directors have agreed to affiliate formally with St. Cloud, Minn.-based CentraCare Health System.

Ontario, Calif.-based Prime Healthcare Services and Saint Michael’s Medical Center in Newark, N.J., signed a binding asset purchase agreement.

Beleaguered 25-bed Scott County Hospital in Scott City, Kan., was granted a four-week extension to reach a deal with potential purchasing company SM Promen of Tennessee.

Story County Medical Center in Nevada, Iowa, officially affiliated with Iowa Health – Des Moines, a senior affiliate of Iowa Health System.

Akron, Ohio-based Summa Health System and Cincinnati-based Catholic Health Partners approved a letter of intent to create a “strategic partnership,” pending final negotiations.

Dallas-based hospital chain Tenet Healthcare entered into a definitive agreement to acquire 209- bed Emanuel Medical Center in Turlock, Calif.

The board of directors at Valley View Regional Hospital in Ada, Okla., agreed to seek a partnership with Chesterfield, Mo.-based Mercy.

Wise Regional Health System, based in Decatur, Texas, will sell $19 million in bonds as it looks to purchase the bankrupt North Texas Community Hospital in Bridgeport, after it placed the only bid for the hospital for $20 million.

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