Brentwood, Tenn.-based Quorum Health, which operates 23 hospitals across the U.S., is selling its hospital in Galesburg, Ill., according to The Register-Mail.
Transactions & Valuation Issues
Below are six hospital transactions or partnerships that have been delayed or called off since Jan. 1, beginning with the most recent:
U.S. Rep. David Cicilline, D-R.I., the House antitrust chairman, is proposing a temporary ban on most mergers until the COVID-19 pandemic ends, according to Politico.
A bankruptcy judge has signed off on AHMC Healthcare's $40 million offer to buy two California hospitals from Verity Health, according to The Wall Street Journal.
Southfield, Mich.-based Beaumont Health is delaying its merger with Akron, Ohio-based Summa Health due to the COVID-19 pandemic, Beaumont CEO John Fox said during a news briefing April 21.
Advertisement
Franklin, Tenn.-based Community Health Systems has signed a definitive agreement to sell San Angelo (Texas) Community Medical Center.
Hospitals are facing extreme financial pressures due to COVID-19 that will have lasting effects on the healthcare merger and acquisition market, according to investment banking firm Juniper Advisory.
Patrick Soon-Shiong, MD, the billionaire owner of the Los Angeles Times, has purchased a Los Angeles hospital out of bankruptcy for $135 million.
The Carle Foundation in Urbana, Ill., will pay about $190 million to acquire two hospitals from Advocate Aurora Health, a 28-hospital system with dual headquarters in Downers Grove, Ill., and Milwaukee, according to The News-Gazette.
The leaders of four hospitals on Chicago's South Side shared additional details about their plan to merge at a virtual town hall meeting this week, according to Chicago Block Club.