Deerfield, Ill.-based Walgreens and LabCorp announced a collaboration Oct. 12 to open LabCorp patient service centers at at least 600 Walgreens stores across the nation during the next four years.
Transactions & Valuation Issues
Franklin, Tenn.-based Community Health Systems has entered into a definitive agreement to sell Mary Black Health System, a two-hospital system based in Spartanburg, S.C.
New York City-based private equity firm KKR completed the acquisition of Envision Healthcare, a Nashville, Tenn.-based physician services provider.
The last independently operated health system in Middlesex County — New Brunswick, N.J.-based Saint Peter's HealthCare System — is seeking a strategic partnership to remain competitive and preserve its "Catholic mission and identity," according to NJ.com.
There is a well-known business statistic that 60-90% of organizations fail to execute their strategies during normal operating times, a number which certainly increases during major uncertainty.
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CVS Health entered into an agreement with the Department of Justice to move forward with its $69 billion acquisition of Aetna, the company said Oct. 10.
Teche Regional Medical Center in Morgan City, La., is looking for a new management company after Brentwood, Tenn.-based LifePoint Health proposed to terminate its lease agreement with the hospital, according to the Franklin Banner-Tribune.
Four of the largest for-profit hospital operators have each entered into several transactions in recent months. Some of the companies are selling off facilities to strengthen their hospital portfolios, while others are exploring ways to expand their reach.
Columbus-based OhioHealth has entered into a five-year management agreement with Cambridge, Ohio-based Guernsey Health Systems to provide leadership and management for Southeastern Ohio Regional Medical Center, an 84-bed hospital in Cambridge.
A state-brokered consent decree between Pittsburgh rivals Highmark Health and UPMC expires June 30, 2019. After that date, Highmark Medicare Advantage members will be unable to access several UPMC providers and hospitals at in-network rates.