Evergreen Park, Ill.-based Little Company of Mary Hospital will officially merge with Peoria, Ill.-based OSF HealthCare on Feb. 1, according to The Beverly Review.
Transactions & Valuation Issues
UMass Memorial plans to acquire Harrington HealthCare System, a Southbridge, Mass.-based system comprised of a 119-bed hospital, a satellite location and three medical office buildings.
A struggling hospital in Pennsylvania is reportedly considering a takeover bid from Lehigh Valley Health Network, but LVHN's CEO remained quiet on whether his health system would acquire the facility, according to The Morning Call.
Wyoming Medical Center in Casper announced Jan. 28 that it has signed a letter of intent with Phoenix-based Banner Health. The two organizations are exploring a potential affiliation, according to the Casper Star-Tribune.
Although the number of announced transactions involving hospitals and health systems fell last year, consolidation in the industry will continue this year as a way to address challenges in the industry, according to Bloomberg Law.
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Montana hospitals once owned the second largest insurer in the state behind Blue Cross Blue Shield of Montana. While the company succeeded in challenging BCBS, hospital leaders ultimately left the insurance game — and folded their venture into the insurer…
Three for-profit hospital operators entered into several transactions in recent months. Some of the companies are selling facilities to strengthen their hospital portfolios, while others are exploring ways to expand their reach.
Seven transactions involving hospitals and health systems that were announced, finalized or advanced since Jan. 14:
WellCare Health Plans and Centene secured all regulatory requirements needed to merge, the organizations said Jan. 23.
Four hospitals on Chicago's South Side have signed a nonbinding agreement to form a single integrated healthcare system.