Severe staffing shortages at Madera (Calif.) Community Hospital are forcing permanent closure sooner than expected, according to a report from ABC 30 Action News.
Transactions & Valuation Issues
Seattle Children's Hospital acquired the headquarters of Renton, Wash.-based Providence for $84 million, the Puget Sound Business Journal reported Dec. 28.
Bankrupt clinic chain Borrego Health will auction off millions of dollars worth of real estate, medical equipment and other property in January, the San Diego Union-Tribune reported Dec. 24.
Augusta (Ga.) University Health System signed a letter of intent to join Marietta, Ga.-based Wellstar Health System.
Hospitals and health systems face a variety of short- and long-term challenges in the year ahead, and one can be summed up in just a few letters: the FTC.
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Madera (Calif.) Community Hospital plans to file for bankruptcy Jan. 3 and close within the month.
The Wall Street Journal is monitoring nonprofit health systems and recently published an article scrutinizing where the largest systems are expanding and contracting.
New Mexico reached a net $132 million agreement with CVS, Walmart and Albertsons over allegations the retail giants reaped large profits from selling addictive opioids to patients, the Albuquerque Journal reported Dec. 20.
St. Francis Medical Center in Trenton, N.J., on Dec. 21 transitioned to a freestanding emergency room that offers various outpatient services after Capital Health acquired the hospital from Trinity Health, according to PBS affiliate WHYY.
Consolidation continued to take flight across the healthcare sector this year, with many hospitals and health systems pursuing mergers and acquisitions to scale and reduce costs, provide additional care services and strengthen their footprint in certain markets.