While larger health systems tend to tout the supposed benefits of consolidation, cross-market mergers in particular could be leading to higher prices and potentially lower quality of care, according to an Aug. 23 KFF report.
Transactions & Valuation Issues
Louisville, Ky.-based Norton Healthcare plans to fully acquire two Indiana hospitals, Clark Memorial Health in Jeffersonville and Memorial Health in Scottsburg, ending a joint partnership with LifePoint Health.
Despite signing a letter of intent to be acquired by the University of Iowa for $20 million, a recent review of Iowa City-based Mercy Hospital assessed its value at $137.3 million, The Gazette reported Aug. 21.
Madison, W.Va.-based Boone Memorial Health is set to acquire Family Life Pharmacy assets and a pharmacy building.
Los Angeles-based Prospect Medical Holdings, which is planning to sell three Connecticut hospitals to Yale New Haven Health, owes more than $1.6 million in taxes in the state, according to a CT Insider Aug. 21 report.
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The court overseeing Montebello, Calif.-based Beverly Community Hospital's bankruptcy case has approved an asset purchase agreement with Adventist Health White Memorial.
Portland-based Legacy Health and Oregon Health & Science University have signed a nonbinding letter of intent to combine and create a 10-hospital system with more than 32,000 employees and over 100 locations.
Oakland, Calif.-based Kaiser Permanente has agreed to acquire Geisinger Health, a 12-hospital system headquartered in Danville, Pa., in a deal that would see Geisinger be the first to join Risant Health, a nonprofit launched by Kaiser Foundation Hospitals.
Here is a summary of hospital and healthcare merger and acquisition-related transactions from July:
In this episode, regular guest Alan Condon, Editor-in-Chief at Becker's Healthcare, joins the podcast to share an update on Kaiser Permanente’s new value-based nonprofit Risant Health and CVS Health’s acquisition of Oak Street Health.