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Hospital M&A update: 21 recent deals

Twenty-one transactions involving hospitals and health systems were announced, finalized or advanced in the last month:

1. CHI Franciscan, Virginia Mason officially merge: 5 things to know
CHI Franciscan and Virginia Mason officially formed an 11-hospital health system Jan. 5. The system, Virginia Mason Franciscan Health, will be part of Chicago-based CommonSpirit Health.

2. CHS sells 2 Tennessee hospitals
Franklin, Tenn.-based Community Health Systems has sold two Tennessee hospitals to Nashville, Tenn.-based Vanderbilt University Medical Center. 

3. 67-bed hospital joins VCU Health
Richmond, Va.-based VCU Health System has finalized its acquisition of 67-bed Riverside Tappahannock (Va.) Hospital and its related assets.

4. NorthShore acquires Illinois hospital system
Evanston, Ill.-based NorthShore University HealthSystem finalized its acquisition of Northwest Community Healthcare, a single-hospital system in Arlington Heights, Ill.

5. 75-bed Kentucky hospital joins Owensboro Health
Twin Lakes Regional Medical Center, a 75-bed facility Leitchfield, Ky., joined Owensboro (Ky.) Health Jan. 4.

6. Georgia health system will seek OK to join Atrium Health in $650M deal
Rome, Ga.-based Floyd Health System plans to seek approval from Georgia's attorney general this month to join Charlotte, N.C., based Atrium Health.

7. CarePoint inks deal to sell 2 New Jersey hospitals
Jersey City, N.J.-based CarePoint Health has signed a letter of intent to sell two of its hospitals to KPC Global Management.

8. LifePoint to sell Washington hospital
Brentwood, Tenn.-based LifePoint Health has entered into an agreement to sell its majority interest in Capital Medical Center in Olympia, Wash., to Tacoma, Wash.-based MultiCare.

9. New Hampshire health system sells for $30M
A bankruptcy court judge has signed off on Concord (N.H.) Hospital's $30 million acquisition of LRGHealthcare, a two-hospital system in Laconia, N.H.

10. Massachusetts hospitals file merger plan
Worcester, Mass.-based UMass Memorial Healthcare and Southbridge, Mass.-based Harrington HealthCare System filed paperwork Dec. 22 for Harrington to become part of the UMass Memorial system.

11. Philadelphia health system merger clears latest FTC challenge
An appellate court on Dec. 21 denied the Federal Trade Commission's latest attempt to block a merger between Philadelphia-based Jefferson Health and Einstein Healthcare Network. 

12. Christus Health offers $27M to buy out partner in joint venture
Irving, Texas-based Christus Health signed a letter of intent to buy Hopkins County Hospital District's stake in a joint venture for $27 million. The joint venture, Christus Hopkins Health Alliance, was formed in 2016. It was made to jointly manage and operate what is now called Christus Mother Frances Hospital in Sulphur Springs, Texas, and its affiliated clinics. 

13. Tenet to sell its 87 urgent care centers to FastMed
Dallas-based Tenet Healthcare will sell its urgent care business to FastMed Urgent Care, the companies said Dec. 18. 

14. Iowa hospitals seek to combine, get more federal funding
Two Iowa hospitals are looking to combine into one organization to obtain a new federal classification that will result in greater reimbursement. 

15. University Hospitals to grow to 22 hospitals
Lake Health, a Concord, Ohio-based health system with three hospitals, is joining Cleveland-based University Hospitals, the organizations said Dec. 17.

16. Illinois system to merge with Northwestern Medicine
Palos Heights, Ill.-based Palos Health will join Chicago-based Northwestern Medicine on Jan. 1. 

17. Washington hospital sells for $20M
An investment group completed its purchase of Astria Regional Medical Center in Yakima, Wash., and a neighboring medical office building on Dec. 15.

18. UPMC to acquire third hospital in Ireland
Pittsburgh-based UPMC will acquire a 105-year-old hospital in Kilkenny, Ireland, the third hospital the system owns in the country. 

19. Tenet strikes $1.1B deal for 45 surgery centers
Dallas-based Tenet Healthcare is acquiring up to 45 ambulatory surgery centers from Towson, Md.-based SurgCenter Development, according to a Dec. 10 news release. 

20. 476-bed Canton hospital to join Cleveland Clinic
Mercy Medical Center, a 476-bed hospital in Canton, Ohio, will join the Cleveland Clinic, the organizations said Dec. 8.

21. Financial turnaround firm makes unsolicited $250M bid for Care New England
StoneBridge Healthcare made an unsolicited $250 million offer to buy Providence, R.I.-based Care New England.

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