Dallas-based Steward Health Care has closed the sale of its physician group, Stewardship Health, to Nashville, Tenn.-based Rural Healthcare Group, a primary care provider organization and part of Kinderhook Industries.
Transactions & Valuation Issues
Plans for Jersey City, N.J.-based CarePoint Health and Hudson Regional Hospital in Secaucus, N.J., to affiliate under management services organization Hudson Health System have moved forward.
Multiple healthcare providers have come forward to express interest in Thomasville (Ala.) Regional Medical Center, which suspended operations in late September due to financial challenges and staff shortages.
Dallas-based Tenet Healthcare has sold 14 hospitals this year for more than $4.8 billion combined as it continues to transform its portfolio into a more value-based care enterprise with a leading specialty care platform.
CHA Partners’s plan to acquire Upland, Pa.-based Crozer Health from Los Angeles-based Prospect Medical Holdings has collapsed, NPR affiliate WHYY reported Oct. 28.
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As financial pressures mount and competition intensifies, hospitals and health systems are increasingly pursuing mergers and acquisitions to diversify their portfolios, strengthen bargaining power and pursue economies of scale.
U.S. Bankruptcy Court Judge Christopher Lopez approved the sale of seven Dallas-based Steward Health Care hospitals to Healthcare Systems of America, an affiliate of Glendale, Calif.-based American Healthcare Systems during an Oct. 25 court hearing.
During an Oct. 24 third quarter earnings call, Franklin, Tenn.-based Community Health Systems CFO Kevin Hammons reiterated the health system's commitment to selling $1 billion in hospital assets.
Connecticut has told Los Angeles-based Prospect Medical Holdings that it wants monitors on board at its three state hospitals amid ongoing disputes with Yale New Haven (Conn.) Health over a $435 million stalled deal for the facilities.
Orlando (Fla.) Health has completed the purchase of three Steward Health Care hospitals and related physician practices in Florida.