The boards of Lifespan and Care New England — both based in Providence, R.I. — have decided to withdraw their merger application after the Federal Trade Commission made an announcement Feb. 17 to file suit to block the deal.
Transactions & Valuation Issues
Pajaro Valley Healthcare District Project was approved by a bankruptcy judge to purchase Watsonville Community (Calif.) Hospital, KSBW reported Feb. 23.
Four deals between health systems have been recently announced or completed in the last few weeks.
StoneBridge Healthcare, a financial turnaround company, submitted a bid to purchase Providence, R.I.-based Care New England Health System.
UnitedHealth Group plans to close its acquisition of Change Healthcare on Feb. 27, meaning the Justice Department now has less than one week to intervene to block the deal, according to a Feb. 17 Securities and Exchange Commission filing.
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Pajaro Valley Healthcare District Project has won its bid to buy Watsonville (Calif.) Community Hospital after no other qualified bids were submitted by the deadline, The Pajaronian reported Feb. 21.
Consumer advocates and public health analysts are speaking out against the Yale New Haven (Conn.) deal to buy two Connecticut health systems from Los Angeles-based Prospect Medical Holdings, NPR affiliate Connecticut Public Radio reported Feb. 20.
Six deals involving health systems and hospitals have been announced, finalized or called off in the last two weeks:
Franklin, Tenn.-based Community Health Systems has divested 30 hospitals since 2019. Those hospitals, spread across 12 states, had 4,815 beds, according to a Feb. 17 filing with the Securities and Exchange Commision.
Rhode Island Attorney General Peter Neronha has denied the application for the proposed merger between Lifespan and Care New England and said he will join the Federal Trade Commission in filing a lawsuit challenging the deal, The Boston Globe reported…