Hospital and Health System Transactions – June 2014

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Beaumont Health System in Royal Oak, Mich., Oakwood Healthcare in Dearborn, Mich., and Botsford Health Care in Farmington Hills, Mich., signed a letter of intent to combine their assets, liabilities and operations under one nonprofit system.

Carthage (N.Y.) Area Hospital and Samaritan Medical Center in Watertown, N.Y., announced plans to pursue an affiliation.

Christus Health, based in Irving, Texas, acquired a 50 percent ownership interest in Clínica San Carlos de Apoquindo UC, a full-service hospital based in Santiago, Chile.

Community Health Systems, based in Franklin, Tenn., completed two separate hospital transactions: Sharon (Pa.) Regional Health System and Munroe Regional Medical Center in Ocala, Fla.

Plano, Texas-based Community Hospital Corp.’s management and consulting arm, Community Hospital Consulting, entered into agreements with two new hospitals: Bowie (Texas) Memorial Hospital and Monroe County Hospital in Forsyth, Ga.

Community Medical Center in Missoula, Mont., decided to partner with Billings Clinic RegionalCare LLC, a joint venture between Billings (Mont.) Clinic and RegionalCare Hospital Partners, based in Brentwood, Tenn.

Carter Validus Mission Critical REIT, a real estate investment trust based in Kansas City, Mo., purchased the Cypress Pointe Surgical Hospital property in Hammond, La., for about $25 million.

Fairmont (W.Va.) General Hospital‘s board of directors chose Alecto Healthcare Services, a private firm based in Los Angeles, as its initial buyer.

Guthrie Health, a three-hospital system based in Sayre, Pa., and 183-bed Memorial Hospital in Towanda, Pa., signed an affiliation agreement.

The United Kingdom’s Competition and Markets Authority officially ordered Nashville, Tenn.-based Hospital Corporation of America to sell two of its hospitals — London Bridge Hospital and The Princess Grace Hospital, both located in the heart of London — following of the release of a report based on a two-year investigation.

New Orleans-based LCMC Health signed a “cooperative endeavor agreement” with the Orleans Parish Hospital Service District A, meaning LCMC Health will officially operate New Orleans East Hospital.

Brooklyn Health Partners Development Group won the bid to operate the State University of New York’s Long Island College Hospital in Brooklyn, N.Y.

McCullough-Hyde Memorial Hospital in Oxford, Ohio, and Cincinnati-based Mercy Health decided to end exclusive affiliation negotiations.

Mercy Hospital Hot Springs (Ark.) is officially part of Englewood, Colo.-based Catholic Health Initiatives, as CHI and Chesterfield, Mo.-based Mercy signed a definitive acquisition agreement.

Oconee Medical Center in Seneca, S.C., and Greenville (N.C.) Health System approved a non-binding letter of intent under which Oconee would join GHS.

Parkview Health in Fort Wayne, Ind., and Wabash (Ind.) County Hospital agreed to partner.

Passavant Area Hospital in Jacksonville, Ill., officially became Springfield, Ill.-based Memorial Health System‘s fourth hospital.

The Federal Trade Commission and ordered Toledo, Ohio-based ProMedica to unwind its acquisition of St. Luke’s Hospital in Maumee, Ohio.

Salem (Ore.) Health chose to affiliate with Oregon Health & Science University in Portland.

Sanford Health, based in Sioux Falls, S.D., and Liberty Medical Center in Chester, Mont., ratified a management agreement.

Stormont-Vail HealthCare, based in Topeka, Kan., joined the Mayo Clinic Care Network.

Tufts Medical Center in Boston and Lowell (Mass.) General Hospital are working together to create a new regional health system.

UC Davis Medical Center in Sacramento and the nonprofit Dameron Hospital Association in Stockton, Calif., announced they will not move forward with plans to pursue a joint venture.

Pittsburgh-based UPMC agreed to sell UPMC Beacon Hospital in Dublin, Ireland, to billionaire Denis O’Brien.

Seattle-based UW Medicine and Capital Medical Center in Olympia, Wash., entered into a strategic partnership agreement.

Virginia Commonwealth University Health System in Richmond and Community Memorial Healthcenter in South Hill, Va., signed a preliminary merger deal.

 

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