Since winning a bid in bankruptcy court to acquire St. Francis Medical Center, Ontario, Calif.-based Prime Healthcare has invested millions of dollars into the Lynnwood, Calif.-based safety-net hospital.
Transactions & Valuation Issues
Dallas-based Steward Health Care is now the largest physician-owned healthcare system in the U.S.
California Attorney General Xavier Becerra is seeking authority to slow healthcare mergers, arguing that consolidation typically accelerates amid crises like the COVID-19 pandemic, according to The Los Angeles Times.
Franklin, Tenn.-based Community Health Systems has asked to be released from a long-term lease it holds for a 99-bed hospital in Lake City, Fla., according to TV station WCJB.
Nine transactions involving hospitals and health systems announced, finalized or advanced since May 1:
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Southfield, Mich.-based Beaumont Health announced May 29 that it is calling off a proposed merger with Akron, Ohio-based Summa Health.
Morgantown, W.Va.-based Mon Health System has joined Allegheny Health Network's clinically integrated network and group purchasing organization.
Novant Health committed to investing more than $5 billion in its bid to partner with, manage or own Wilmington, N.C.-based New Hanover Regional Medical Center, according to The Winston-Salem Journal.
Four Chicago hospitals announced May 26 that they are ending their plans to merge after government funding for the $1.1 billion project fell through.
Optum acquired post-acute care management platform naviHealth, according to a statement Optum provided to Becker's.