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.
Transactions & Valuation Issues
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.
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:
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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.
In a recent press release VMG Health has announced Chamira Jayamanne as Managing Director of the Financial Due Diligence Division in the Dallas office.
Miami-based Nicklaus Children's Hospital plans to divest Miami Medical Center two years after purchasing it for $88 million, according to The Miami Herald.
Franklin, Tenn.-based Community Health Systems has been busy selling, spinning-off and closing hospitals over the past four years.