Saginaw, Mich.-based Covenant HealthCare and Marlette, Mich.-based Aspire Rural Health System signed a letter of intent Jan. 22 to explore a partnership that would enhance healthcare services in Michigan’s Thumb region. The nonbinding agreement would begin a formal exploration process…
Transactions & Valuation Issues
Community Health Systems plans to sell an Alabama hospital for $450 million and CommonSpirit is in talks to sell more North Dakota hospitals to Altru. Here are four hospital M&A moves that Becker’s reported during the week of Jan. 19: …
Chicago-based CommonSpirit Health is exploring the sale of seven hospitals in two different markets as it continues to restructure its national footprint and improve its operating performance. The nonprofit Catholic health system recently signed letters of intent for two separate…
Salt Lake City-based Intermountain Health has finalized its acquisition of Las Vegas-based Steinberg Diagnostic Medical Imaging. The outpatient radiology imaging company has 12 locations across the Las Vegas Valley, according to a Jan. 22 Intermountain news release. Care coordination integration…
South Lake Tahoe, Calif.-based Barton Health became the sole governing member of Carson Valley Health, effective Jan. 21. For 25 years, Barton Health and Renown Health jointly governed Gardnerville, Nev.-based critical access hospital under a dual membership model. The organizations…
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Chicago-based CommonSpirit has signed a letter of intent to transfer ownership of three additional hospitals to Grand Forks, N.D.-based Altru Health System. The non-binding agreement includes CHI St. Alexius Health in Bismarck, CHI St. Alexius Health Turtle Lake and CHI…
Upland, Pa.-based Crozer-Chester Medical Center will reopen under new ownership after closing last spring due to financial distress. Chariot Equities, real estate investment & development company, and Allaire Health Services finalized their acquisition of the 64-acre Crozer campus after the…
Franklin, Tenn.-based Community Health Systems has signed a definitive agreement to sell Crestwood Medical Center in Huntsville, Ala., to Huntsville (Ala.) Hospital Health System for $450 million. The deal includes all of the assets tied to the 180-bed hospital and…
Los Angeles-based Prospect Medical Holdings said it plans to move forward with a $1 million sale of its shuttered Springfield (Pa.) Hospital to KQT Aikens Partners 2 after the original bidder failed to close the transaction. Prospect, which sought Chapter…
California’s two largest nonprofit health systems are positioning themselves for major expansion and strategic growth this year, with newly appointed leaders focused on mergers, acquisitions and national partnerships. Oakland-based Kaiser Permanente named Jim Marcotte vice president of mergers and acquisitions…