Yavapai Regional Medical Center, a two-hospital system based in Prescott, Ariz., announced Aug. 25 that it has entered into an affiliation agreement to join Dignity Health's Arizona Division.
Transactions & Valuation Issues
Randolph Health, a bankrupt single-hospital system based in Asheboro, N.C., is working to finalize an agreement to be sold to the Dava Foundation.
Sistersville (W.Va.) General Hospital will join Marietta, Ohio-based Memorial Health System Oct. 1, according to The Marietta Times.
Rochester, Minn.-based Mayo Clinic has invested $50 million into a 741-bed hospital in the United Arab Emirates, according to the system's recent financial report.
The COVID-19 pandemic slowed hospital merger and acquisition activity in the second quarter of this year, but dozens of deals closed in the first seven months of 2020.
Advertisement
Jim Momtazee, a 21-year veteran of investment firm KKR, has launched his own company to pursue private equity deals in the healthcare sector.
Jefferson Parish residents voted to approve the sale of East Jefferson General, a financially distressed facility in Metairie, La., to New Orleans-based LCMC Health, according to NOLA.com.
For-profit provider AHMC Healthcare has finalized the purchase of two California hospitals from Verity Health System, a bankrupt system based in El Segundo, Calif, according to Mercury News.
The board of trustees of Southfield, Mich.-based Beaumont Health agreed last week to postpone voting on a planned merger with Advocate Aurora Health until physician grievances are addressed.
Ontario, Calif.-based Prime Healthcare announced Aug. 14 that it has completed the acquisition of St. Francis Medical Center, a 384-bed hospital in Lynwood, Calif.