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Hospital and Health System Transactions (October 2011)

Meridian, Miss.-based Anderson Regional Medical Center and Philadelphia, Miss.-based Neshoba County General Hospital-Nursing Home officially entered into an affiliation. The affiliation gives NCGH access to ARMC’s comprehensive cancer center.

The Federal Trade Commission approved Nashville, Tenn.-based Ardent Health Services’ purchase of SouthCrest Hospital in Tulsa, Okla., and Claremore (Okla.) Regional Hospital from Franklin, Tenn.-based Community Health Systems.

Auburn Memorial Hospital in Syracuse, N.Y., issued a request for partnership proposals to five hospitals: Syracuse-based SUNY Upstate Medical University, Crouse Hospital and St. Joseph’s Hospital and Health Center and Rochester-based Strong Memorial Hospital and Rochester General Health System.

Baptist Memorial Health Care in Memphis, Tenn., will now have control over Oxford, Miss.- based Baptist Memorial Hospital-North Mississippi after the city of Oxford and Lafayette County approved its sale.

Franklin, Tenn.-based Capella Healthcare signed a letter of intent to explore a partnership with 45-bed, physician-owned Muskogee (Okla.) Community Hospital.

After losing $4 million last year, officials at Christ Hospital in Jersey City, N.J., said they are in negotiations to have Ontario, Calif.-based Prime Healthcare Services buy their hospital.

Community Health Systems based in Franklin, Tenn., announced its intent to acquire Scranton, Pa.-based Moses Taylor Health Care System’s assets.

Geisinger Health Systems in Danville, Pa., and Community Medical Center in Scranton, Pa., are planning to merge. The Pennsylvania attorney general’s office will review the impending transaction.

Greenville (S.C.) Hospital System and Columbia, S.C.-based Palmetto Health are considering collaboration opportunities, after Fitch Ratings downgraded Greenville Hospital System’s bond ratings from AA to AA-.

The Federal Trade Commission approved the partnership between Stockbridge, Ga.-based Henry Medical Center and Atlanta-based Piedmont Healthcare.

HCA reached a definitive agreement to acquire the Colorado Health Foundation’s shares of its Denver- based joint venture, HCA-HealthOne. The hospital operator will purchase the foundation’s remaining ownership interest for $1.45 billion.

The Illinois health board signed off on a proposed affiliation between Des Moines-based Iowa Health System and Peoria, Ill.-based Methodist Health Services.

Leaders with Kansas City, Kan.-based Kansas University Hospital, KU Medical Center and KU Physicians are set to begin negotiations to iron out a new affiliation agreement. The current agreement expires Sept. 30, 2012, and the parties will most likely begin meeting later this year.

Plano, Texas-based LHP Hospital Group signed a letter of intent to merge a previously announced joint venture between LHP, Saint Mary’s Health System and The Waterbury Hospital, both in Waterbury, Conn.

The board of directors at Henderson, N.C.- based Maria Parham Medical Center and Duke LifePoint Healthcare signed an agreement to jointly own and operate MPMC. Duke LifePoint will own 80 percent of the affiliation and invest $45 million in capital improvements at the hospital over the next 10 years, while MPMC’s debt will also be eliminated.

MedCath sold Heart Hospital of New Mexico to Lovelace Health System in Albuquerque and Arkansas Heart Hospital to AR-MED, which is majority owned by Bruce Murphy, MD, a physician affiliated with Little Rock Cardiology Clinic and a current investor in the Arkansas Heart Hospital.

Flint, Mich.-based McLaren Health Care and Northern Michigan Regional Health System in Petoskey, Mich., entered into an agreement to explore a system affiliation.

Georgia Attorney General Sam Olens approved Albany, Ga.-based Phoebe Putney Health System’s acquisition of Dorminy Medical Center in Fitzgerald, Ga.

Mokena-based Provena and Chicago-based Resurrection reached a merger agreement. The deal would create the largest Catholic health system in Illinois.

Saint Mary’s Health Care in Grand Rapids, Mich., and Mercy Health Partners in Muskegon, Mich., are set to merge into a new organization called Mercy Health. Both health systems are owned by Trinity Health.

Saints Medical Center in Lowell, Mass., entered into an asset purchase agreement to become a part of Boston-based Steward Health Care. As part of the affiliation agreement, Steward will provide Saints Medical Center with $5 million immediately for capital needs and a capital commitment of a $35 million investment over five years, among other conditions.

Temple, Texas-based Scott & White Healthcare signed a 20-year affiliation agreement with Texas Children’s Hospital, also in Temple, to enhance the quality of pediatric care.

Pennsylvania’s Department of Health and Attorney General issued final approval on the merger between Shamokin Area Community Hospital in Coal Township, Pa., and Geisinger Medical Center in Danville, Pa.

The potential merger between Nashville, Tenn.- based Vanguard Health Systems and Chicagobased Holy Cross Hospital was canceled.

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